Avacta up on collaboration with China's Biocytogen to develop drug candidates

Daewoong Pharma

08/04/2022 09:00

** Shares of British biotech firm  AVCT.L  up ~18% at 104.9
pence
    ** Co's JV AffyXell Therapeutics to partner with China's
Biocytogen and Korea Non-Clinical Technology Solution Center
    ** Co's partnership aims at developing immune disease
models, carry out proof-of-concept and toxicity testing of
AffyXell's drug candidates 
    ** Collaboration to improve translation of AffyXell's
programmes into human trials and accelerate drug development
    **  AffyXell Therapeutics is a joint venture between Avacta
and South Korea's Daewoong Pharmaceutical  069620.KS  
    ** Including session's gain, stock has fallen ~30% YTD

 (Reporting by Radhika Anilkumar in Bengaluru)
 ((Radhika.Anilkumar@thomsonreuters.com))