Avacta Group - Affimer drug conjugates attracting interest
Avacta has announced a collaboration and licensing agreement with ADC Therapeutics to develop multiple Affimer drug conjugates. The conjugates will combine Avacta’s Affimers with ADC’s warhead and linker technology. The collaboration is multi-target and will aim to generate Affimer binders to three undisclosed cancer targets. ADC will be responsible for all pre-clinical research and development except for Affimer selection, which will be carried out by Avacta. The agreement includes an option on each target to gain an exclusive clinical and commercial licence. Avacta will also be eligible to receive option fees, development and commercial milestones and single-digit royalties. Additionally, ADC will cover Avacta’s costs during the collaboration. No further financial details were announced. We retain our valuation of Avacta at £51m or 44p/share.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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