Flash note: Accelerating investment into therapeutic Affimers
Avacta has announced a £22m gross placing of up to 1.76bn new shares to invest in the development of therapeutic applications of its Affimer platform. The company has demonstrated that Affimers have many characteristics required of a biotherapeutic platform, in addition to ongoing exploitation as research reagents. The proceeds are earmarked to accelerate development of the most promising Affimer candidates and to rehouse the growing therapeutics team. Our valuation and FY16 financial forecasts are under review pending confirmation of the placing in August.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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