Trinity Delta Lighthouse: Avacta
Trinity Delta view: The start of the Phase I study of lead therapeutic asset AVA6000 marks Avacta’s transition to a clinical stage company. AVA6000 is the first programme from its two proprietary platforms, Affimer and pre|CISION, to enter human trials. The Phase I trial will be important in establishing clinical proof of concept; if it demonstrates that AVA6000 is effective in reducing the systemic toxicity of doxorubicin, this would validate the pre|CISION pro-drug concept and this approach for multiple related programmes. This would open up a broader pipeline of proprietary opportunities for Avacta and potentially also increase industry interest in the pre|CISION platform. Avacta is working on several other pre|CISION pro-drugs whose clinical utility would benefit from improved efficacy and reduced toxicities. The most advanced of which is FAP-activated proteasome inhibitor, AVA3996, a prodrug of an analogue of Takeda’s Velcade (bortezomib). We currently value Avacta at £710m, or 280p per share, with the Diagnostic opportunities representing £133m and the Therapeutic pipeline rNPV £559m.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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