Avacta Group plc (LON: AVCT) is the topic of conversation when Dr Martin Hall, Head of Life Sciences from Hardman & Co joins DirectorsTalk. Martin firstly explains what ‘Affimers’ are, previous deals for the group, why the deal with LG group is so important, how this compares with other deals in the sector and how he sees the company valuation.
The Affimer® technology is Avacta’s proprietary alternative to antibodies with wide applications in the life sciences for drug development, diagnostics and research tools. Avacta’s in-house therapeutic pipeline is focused on immuno-oncology and the Group expects to advance its lead programme, a PD-L1/LAG3 bispecific, into the clinic in 2020 whilst building out its pipeline of innovative Affimer® drug candidates.
Alastair Smith, Chief Executive of Avacta Group plc commented:
“I am delighted to be entering into this therapeutic development partnership with LG Chem which is a strong validation of the potential of the Affimer® platform.
“This alliance is an exciting opportunity, not only to work with a partner who has first class biologics manufacturing and clinical development capabilities, but who also has a pioneering vision to develop innovative therapies.
“This landmark agreement with LG Chem reflects the substantial progress that we have made in developing the Affimer® technology as a therapeutic platform and I look forward to updating the market on future progress and other partnerships.”
Dr. Jeewoong Son, President of LG Chem Life Sciences commented:
“We are very pleased to announce collaboration with Avacta Group. Utilizing Avacta’s Affimer® technology – a novel non-antibody protein format overcoming limitations of classical antibody-based therapy – and LG Chem’s biologics capability in development and manufacturing, it will take us to the next level of treatment paradigm and to open up a new horizon in biologics therapeutic strategies. I believe, this innovative collaboration will deliver value to patients and will transform patients’ lives.”