REG - Avacta Group PLC - Issue of Equity and Total Voting Rights

AvactaAnnouncement

22/12/2021 16:30

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RNS Number : 5408W  Avacta Group PLC  22 December 2021

 

 

 

22 December 2021

 

Avacta Group plc

 

("Avacta" or "the Group" or "the Company")

 

Issue of Equity and Total Voting Rights

 

Avacta Group plc (AIM: AVCT), a clinical stage biopharmaceutical company
developing innovative cancer therapies and powerful diagnostics based on its
proprietary Affimer® and pre|CISION™ platforms, today announces that
following the exercise of share options by a former employee it has issued and
allotted in total 111,607 new ordinary shares of 10 pence each in the Company
("Ordinary Shares").

 

Application will be made for the Ordinary Shares to be admitted to trading on
AIM and dealings are expected to commence on or around 29 December 2021
("Admission"). The Ordinary Shares will rank pari passu with the existing
Ordinary Shares of the Company.

 

Following Admission, the Company's enlarged issued share capital will be
253,950,626. This figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

-Ends -

 

 

 

For further information from Avacta Group plc, please contact:

 Avacta Group plc

 Alastair Smith, Chief Executive Officer                   Tel: +44 (0) 844 414 0452

 Tony Gardiner, Chief Financial Officer                    www.avacta.com (http://www.avacta.com)

 Michael Vinegrad, Group Communications Director

 Stifel Nicolaus Europe Limited (Nomad and Broker)         Tel: +44 (0) 207 710 7600

 Nicholas Moore / Nick Adams / Fred Walsh / Ben Maddison   www.stifel.com (http://www.stifel.com/)

 FTI Consulting (Financial Media and IR)                   Tel: +44(0) 203 727 1000

 Simon Conway / Stephanie Cuthbert                         Avacta.LS@fticonsulting.com (mailto:Avacta.LS@fticonsulting.com)

 Zyme Communications (Trade and Regional Media)            Tel: +44 (0)7787 502 947

 Katie Odgaard                                             katie.odgaard@zymecommunications.com
                                                           (mailto:katie.odgaard@zymecommunications.com)

 

About Avacta Group plc - https://www.avacta.com (https://www.avacta.com/)

 

Avacta Group is developing novel cancer immunotherapies and powerful
diagnostics based on its two proprietary platforms - Affimer(®) biologics and
pre|CISION™ tumour targeted chemotherapies.

 

The Affimer(®) platform is an alternative to antibodies derived from a small
human protein. Despite their shortcomings, antibodies currently dominate
markets, such as diagnostics and therapeutics, worth in excess of $100bn.
Affimer technology has been designed to address many of these negative
performance issues, principally: the time taken to generate new antibodies and
the reliance on an animal's immune response; poor specificity in many cases;
their large size, complexity and high cost of manufacture.

 

Avacta's pre|CISION™ targeted chemotherapy platform releases active
chemotherapy in the tumour, which limits the systemic exposure that causes
damage to healthy tissues, and thereby improves the overall safety and
therapeutic potential of these powerful anti-cancer treatments.

 

The Group comprises two divisions: The therapeutics development activities are
based in London and Cambridge, UK and the Group is generating near-term
revenues from Affimer reagents for diagnostics, bioprocessing and research,
through a separate diagnostics business unit based in Wetherby, UK.

 

Avacta's Diagnostics Division is developing an in-house pipeline of
Affimer-based diagnostic assays, including the AffiDX(®) SARS-CoV-2 Lateral
Flow Rapid Antigen Test, and works with partners world-wide to develop bespoke
Affimer(®) reagents for third party products.

 

Avacta's Therapeutics Division is working to deliver a more tolerable and
durable treatment response for oncology patients who do not respond to
existing immunotherapies. By combining its two proprietary platforms the Group
is building a wholly owned pipeline of clinically differentiated cancer
therapies, aiming to extend the therapeutic benefits to all cancer patients.
In 2021 Avacta transitioned to become a clinical stage biopharmaceutical
company, commencing a phase I first-in-human, open label, dose-escalation and
expansion study of AVA6000, a pro-doxorubicin, the Group's lead pre|CISION™
prodrug, in patients with locally advanced or metastatic selected solid
tumours.

 

Avacta has established drug development partnerships with pharma and biotech,
including a research collaboration with ModernaTX, Inc. (formerly Moderna
Therapeutics Inc.), a multi-target deal with LG Chem worth up to $400m, a
joint venture in South Korea with Daewoong Pharmaceutical focused on cell and
gene therapies incorporating Affimer immune-modulators and a collaboration
with Point Biopharma to develop radiopharmaceuticals based on the
pre|CISION™ platform. Avacta continues to actively seek to license its
proprietary platforms in a range of therapeutic areas.

 

To register for news alerts by email go
to www.avacta.com/investor-news-email-alerts
(http://www.avacta.com/investor-news-email-alerts)

 

 

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