Trinity Delta Lighthouse: Avacta
Trinity Delta view: The pre|CISION platform underpins the near- and medium-term prospects of Avacta’s Therapeutics division, and the progress of the lead programme AVA6000 effectively acts as validation of the pre|CISION platform’s tumour targeting potential. Biopsy results demonstrate a materially higher doxorubicin tumour localised concentration than in equivalent blood levels, while the fourth dosage cohort results again demonstrate lower toxicities and side-effects than would have been predicted. Although the addition of higher dose cohorts extends the results of the Phase Ia element of the trial into H123, the delay should be viewed as a positive. Successful proof-of-concept should provide the blueprint for an extensive pipeline of related products. Further detail may be shared at Avacta’s upcoming Therapeutics Division Science Day (February 23). AVA6000 is the largest single element of our rNPV model, £61.6m (equivalent to 23.2p a share), of our current Avacta valuation of £587m (or to 221p per 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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