REG - Avacta Group PLC - Shaun Chilton appointed Non-Executive Chairman

AvactaAnnouncement

20/06/2024 07:00

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RNS Number : 1998T  Avacta Group PLC  20 June 2024

 

 

 

20 June 2024

 

Avacta Group plc

 

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

 

Shaun Chilton is appointed Non-Executive Chairman of the Avacta Board of
Directors

 

 

Avacta Group plc (AIM: AVCT), a life sciences company developing innovative,
targeted cancer treatments and powerful diagnostics, announces that Shaun
Chilton has been appointed Non-Executive Chairman replacing Eliot Forster, who
is also stepping down from the Board. The changes will occur with immediate
effect.

 

Shaun Chilton has served as a Non-Executive Director at Avacta since June
2023, having previously held the position of Chief Executive Officer of
Clinigen Group plc, a global pharmaceutical services group offering access to
medicines, operating in over 100 countries. Shaun is an entrepreneurial
biopharma executive and Chair with over 30 years' experience leading and
managing both private and public businesses and a track record of delivering
growth in sales and business enterprise value.

 

As CEO, he led the sale of Clinigen in 2022 to Triton Partners for a total
consideration of c. £1.3 billion. Mr. Chilton has considerable board
experience within UK public companies and has held several other board level
roles including serving as Non-Executive Chair of MAP Patient Access Ltd and
C7 Health Ltd. As Chair of C7 Health Ltd, he led the sale of the business to a
strategic buyer in 2022.

 

Avacta's Board of Directors signaled ongoing plans in April 2024 for an
evolution of the Board to meet the demands of being a clinical stage oncology
company, as Avacta accelerates the clinical development of its pre|CISION™
platform. Avacta also recently appointed Christina Coughlin MD PhD, formerly
Head of Research & Development, as Chief Executive Officer. Dr. Coughlin
has previously served as CEO of Cytoimmune Therapeutics, and as Chief Medical
Officer at Tmunity, Rubius and Immunocore.

 

Further evolution of the Board membership is planned in the near future to
support the Company in the transition to a therapeutics-focused organisation.

 

Shaun Chilton, Chairman, commented:

 

"I've worked in biopharma businesses for three decades and, having spent a
year on the Board of Avacta, I understand the potential of the pre|CISION(™)
platform to transform the way we treat cancer. Avacta's Board will continue to
evolve to provide support for this platform and to ensure that we optimise the
tremendous opportunity for patients and shareholders alike. I'm excited to be
stepping into the role of Chair and to be working even more closely with the
management team and wider Board.

 

"I'd also like to thank Eliot for his guidance and leadership of the Board and
the expertise he has brought to bear. Avacta and the Board have benefitted
from his deep drug development and company building experience as well as his
contacts in the sector across both public and private companies in Europe and
the US."

 

Christina Coughlin, CEO, continued:

 

"I look forward to working with Shaun in his new role as Chairman of the Board
and continuing to focus on the key goals and priorities for the Company. Shaun
is keenly aware of the potential that exists in our oncology pipeline to bring
value to patients and shareholders alike and we will work together to deliver
on that potential. I am grateful to Eliot for his guidance he has provided to
Avacta and for his leadership across this transition."

 

 

For further information from Avacta Group plc, please contact:

 

 Avacta Group plc                                      Tel: +44 (0) 1904 21 7070

 Christina Coughlin, CEO                               www.avacta.com (http://www.avacta.com/)

 Tony Gardiner, Chief Financial Officer

 Michael Vinegrad, Group Communications Director

 Peel Hunt (Nomad and Broker)

 James Steel / Chris Golden / Patrick Birkholm         www.peelhunt.com (http://www.peelhunt.com)

 ICR Consilium

 Mary-Jane Elliott / Jessica Hodgson / Sukaina Virji   avacta@consilium-comms.com (mailto:avacta@consilium-comms.com)

 

 

 

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

 

Avacta Group is a UK-based life sciences company focused on improving
healthcare outcomes through targeted cancer treatments and diagnostics.

 

Avacta Therapeutics: a clinical stage oncology biotech division harnessing
proprietary therapeutic platforms to develop novel, highly targeted cancer
drugs.

 

Avacta Diagnostics focuses on supporting healthcare professionals and
broadening access to diagnostics.

 

Avacta has two proprietary platforms, pre|CISION™ and Affimer(®).

 

The pre|CISION™ platform is a highly specific substrate for fibroblast
activation protein (FAP) which is upregulated in most solid tumours compared
with healthy tissues. The pre|CISION™ platform harnesses this tumour
specific protease to activate pre|CISION™ peptide drug conjugates and
pre|CISION™ antibody/Affimer® drug conjugates in the tumour
microenvironment, reducing systemic exposure and toxicity, allowing dosing to
be optimised to deliver the best outcomes for patients.

 

The lead pre|CISION™ programme AVA6000, a peptide drug conjugate form of
doxorubicin, is in Phase 1 studies. It has shown an improvement in safety and
tolerability in clinical trials to date compared with standard doxorubicin and
preliminary signs of clinical activity in multiple patients.

 

 

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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