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Avacta Group Plc

Avacta Group CEO Alastair Smith Rapid COVID19 Test Strips Available Summer (Interview)

Avacta Group plc (LON:AVCT) CEO Alastair Smith joins DirectorsTalk to discuss the development and manufacture of a rapid test for the COVID-19 coronavirus infection for population screening. Alastair explains what the test will be able to do, why the Affimer platform is ideal for developing this kind of diagnostic, the commercial terms of the agreement and when we should expect the test to be available.

Avacta Group is developing novel cancer immunotherapies combining its two proprietary platforms – Affimer® biotherapeutics and pre|CISION™ tumour targeted chemotherapy. With this approach, the Company aims to address the lack of a durable response to current immunotherapies experienced by most patients. The Company’s therapeutics development activities are based in Cambridge, UK.

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

Avacta has established drug development partnerships with pharma and biotech, including with Moderna Therapeutics Inc., a deal with LG Chem worth up to $310m, a partnership with ADC Therapeutics to develop Affimer drug conjugates and has established a joint venture in South Korea with Daewoong Pharmaceutical focused on cell and gene therapies incorporating Affimer immune-modulators. Avacta actively seeks to license its proprietary platforms in a range of therapeutic areas.

Avacta diagnostics business unit works with partners world-wide to develop Affimers for evaluation by those third parties with the objective of establishing royalty bearing license deals. The Company is also developing a small in-house pipeline of Affimer-based diagnostic assays for licensing.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.