REG - Avacta Group PLC - Director/PDMR Shareholding

AvactaAnnouncement

20/10/2022 08:15

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RNS Number : 4731D  Avacta Group PLC  20 October 2022

20 October 2022

 

Avacta Group plc

 

("Avacta" or "the Group" or "the Company")

 

Director/PDMR Shareholding

 

Avacta Group plc (AIM: AVCT), a clinical stage biopharmaceutical company
developing innovative cancer therapies and powerful diagnostics based on its
proprietary Affimer® and pre|CISION™ platforms, today confirms that
following the Company's financing announced on 18 October 2022, Dr. Eliot
Forster, Non-Executive Chairman of the Company, subscribed for 15,000 ordinary
shares of 10p each ("Ordinary Shares") in the Placing at 95 pence per share.

 

Following his subscription, Dr. Eliot Forster owns 168,333 Ordinary Shares in
the Company, representing 0.06% of the Company's issued share capital.

 

Capitalised terms used but not otherwise defined in the text of this
announcement shall have the meaning given to them in the Company's
announcements on the 18 October 2022.

 

 

-Ends-

 

For further information from Avacta Group plc, please contact:

 

 Avacta Group plc                                                                Tel: +44 (0) 1904 21 7070

 Alastair Smith, Chief Executive Officer                                         www.avacta.com (http://www.avacta.com)

 Tony Gardiner, Chief Financial Officer

 Michael Vinegrad, Group Communications Director

 Stifel Nicolaus Europe Limited (Nomad and Broker)                               Tel: +44 (0) 207 710 7600

 Nicholas Moore / Nick Adams / Samira Essebiyea / Nick Harland / Dhiren Suares   www.stifel.com (http://www.stifel.com/)
 / William Palmer-Brown

 FTI Consulting (Financial Media and IR)                                         Tel: +44(0) 203 727 1000

 Simon Conway / Alex Shaw / George Kendrick                                      Avacta.LS@fticonsulting.com (mailto:Avacta.LS@fticonsulting.com)

 Zyme Communications (Trade and Regional Media)                                  Tel: +44 (0)7891 477 378

 Lily Jeffery                                                                    lily.jeffery@zymecommunications.com

                                                                               (mailto:katie.odgaard@zymecommunications.com)

 

About Avacta Group plc - https://www.avacta.com (https://www.avacta.com/)

 

Avacta Group is developing novel cancer immunotherapies and powerful
diagnostics based on its two proprietary platforms - Affimer(®) biologics and
preCISION™ tumour targeted chemotherapies.

 

The Affimer(®) platform is an alternative to antibodies and is derived from a
small human protein. Affimer technology has been designed to address many of
the negative issues of antibodies, principally: the time taken to generate new
antibodies, the reliance on an animal's immune response; poor specificity in
many cases; in addition to, the complexity and high cost of manufacture.
Despite these shortcomings, antibodies currently dominate markets, such as
diagnostics and therapeutics, which are worth in excess of $100bn.

 

Avacta's preCISION™ targeted chemotherapy platform is designed to
selectively release active chemotherapy in FAP rich tumour tissue to limit the
systemic exposure that causes damage to healthy tissues, and thereby aims to
improve the overall safety and therapeutic potential of these powerful
anti-cancer treatments.

 

The Avacta Group comprises two divisions: The therapeutics development
activities are based in London, UK and a separate diagnostics business unit is
based in Wetherby, UK. The Group is generating near-term revenues from
Affimer(®) reagents for diagnostics, bioprocessing and research.

 

Avacta's Diagnostics Division is developing an in-house pipeline of
Affimer-based diagnostic assays, including the AffiDX(®) SARS-CoV-2 Lateral
Flow Rapid Antigen Test, and works with partners world-wide to develop bespoke
Affimer(®) reagents for third party products.

 

Avacta's Therapeutics Division is working to generate more tolerable and
durable treatments for oncology patients who do not respond to existing
therapies. By combining its two proprietary platforms the Group is building a
wholly owned pipeline of clinically differentiated cancer therapies. In 2021
Avacta transitioned to become a clinical stage biopharmaceutical company, when
it commenced a phase I trial in patients with locally advanced or metastatic
selected solid tumours. The study was a first-in-human, open label,
dose-escalation and expansion study of the Group's lead preCISION™ prodrug,
AVA6000 (a pro-doxorubicin).

 

Avacta has established drug development partnerships with pharma and biotech,
including a multi-target deal with LG Chem worth up to $400m, a joint venture
in South Korea with Daewoong Pharmaceutical focused on cell and gene therapies
incorporating Affimer immune-modulators and a recent license agreement with
Point Biopharma for them to develop radiopharmaceuticals based on the
preCISION™ platform.

 

To register for news alerts by email go to
www.avacta.com/investor-news-email-alerts
(http://www.avacta.com/investor-news-email-alerts)

 

 

ANNEX

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Dr. Eliot Forster

 2    Reason for the notification

 a)   Position/status                                              Non-Executive Chairman

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Avacta Group PLC.

 b)   LEI                                                          2138009U3EG31OPMGH36

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted

 a)   Description of the financial instrument, type of instrument  Ordinary Shares of 10p each

      Identification code                                          ISIN: GB00BYYW9G87

 b)   Nature of the transaction                                    Placing

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     95.00p            15,000

 d)   Aggregated information

                                                                    Aggregate Total   Volume(s)
                                                                   £14,250.00         15,000

 e)   Date of the transaction                                      18 October 2022

 f)   Place of the transaction                                     London Stock Exchange, AIM Market

 

e)

 

Date of the transaction

 

 

18 October 2022

f)

 

Place of the transaction

 

 

London Stock Exchange, AIM Market

 

 

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