Avacta Group | AGM update – Good progress in Arm 2 testing
Avacta has announced an update ahead of its AGM today. The key highlight is that dosing in the second cohort of the two weekly clinical test of AVA6000 (Arm 2 of Phase 1) has been successfully completed without dose limiting toxicities being observed and that dosing is now ongoing in cohort 3. That keeps the company on track to commence the dose expansion Phase 1b efficacy study in 2H24 when it also expects to present further data from the AVA6000 trial. In addition, Avacta has announced the formation of a Scientific Advisory Board to support the broader development of AVA6000 and the pre|CISION™ pipeline, a number of Board changes, and that net cash at 31st May was c£35m, sufficient to progress AVA6000 into Phase 2 clinical trials and develop the wider drug pipeline. Avacta plans to hold a Research and Development Spotlight Science Day in 4Q24 when it will provide more detail on the future of the pre|CISION™ platform.Avacta Group is a biotechnology company that is developing biotherapeutics and reagents based on its proprietary Affimer technology, an engineered alternative to antibodies. Affimer® reagents and therapeutics are a class of non-antibody binding proteins that have been engineered for a range of applications where antibodies and aptamers have limitations. Co. has two operating segments: Life Sciences, which provides custom Affimers for reagents and diagnostics, drug and biomarker discovery in biotech research and development; and Animal Health, which provides tools and contract services to assist diagnosis of conditions in animals to enable treatment for veterinarians.
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