REG - Avacta Group PLC - Issue of Equity and Total Voting Rights

AvactaAnnouncement

08/04/2022 14:00

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RNS Number : 8411H  Avacta Group PLC  08 April 2022

 

 

 

08 April 2022

 

Avacta Group plc

 

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

 

Issue of Equity and Total Voting Rights

 

Avacta Group plc (AIM: AVCT), a clinical stage oncology company and developer
of powerful diagnostics based on its innovative Affimer® and pre|CISION™
platforms, today announces that following the exercise of share options by
employees it has issued and allotted in total 508,333 new ordinary shares of
10 pence each in the Company ("Ordinary Shares").

 

Application will be made for the Ordinary Shares to be admitted to trading on
AIM and dealings are expected to commence on or around 14 April 2022
("Admission"). The Ordinary Shares will rank pari passu with the existing
Ordinary Shares of the Company.

 

Following Admission, the Company's enlarged issued share capital will be
254,901,919. This figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

 

- Ends -

 

For further information from Avacta Group plc, please contact:

 Avacta Group plc

 Alastair Smith, Chief Executive Officer                       Tel: +44 (0) 844 414 0452

 Tony Gardiner, Chief Financial Officer                        www.avacta.com (http://www.avacta.com)

 Michael Vinegrad, Group Communications Director

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

 Nicholas Moore / Nick Adams / Fred Walsh / Nicholas Harland   www.stifel.com (http://www.stifel.com/)

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

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

 Zyme Communications (Trade and Regional Media)                Tel: +44 (0)7787 502 947

 Lily Jeffery                                                  lily.jeffery@zymecommunications.com
                                                               (mailto:lily.jeffery@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
pre|CISION™ 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 pre|CISION™ 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 and Cambridge, 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 pre|CISION™ 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
pre|CISION™ 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)

 

 

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