Avacta: Diagnostics business back into the spotlight
Avacta is seeking to capitalise on the positive perception shift in the diagnostic market since COVID-19 brought testing to the masses. An M&A-led growth strategy, complemented by internal capabilities, notably the proprietary Affimer platform, should create a self-sustaining Diagnostics business. The acquisition of Launch Diagnostics was the first step, with additional complementary targets being sought and the firepower to execute. Meanwhile in Therapeutics, lead asset AVA6000 continues to progress and should validate the pre|CISION platform’s clinical utility. This remains the biggest near-term value driver. Our updated valuation is £587m, equivalent to 221p/share with potential upside from positive AVA6000 updates.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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