Update: Moderna deal shows affinity for Affimers
Avacta Life Sciences' (ALS) deal with Moderna Therapeutics to develop a range of Affimer-based biotherapeutic candidates is transformational, not only providing an opportunity to increase the value of Affimers as any clinical products progress, but also balancing the company's risk profile and reducing the reliance on Affimers as reagents. ALS will receive $0.5m upfront plus clinical milestone payments for any clinical candidate identified. We have increased our DCF valuation from £51m to £64m.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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