Avacta Group plc (LON:AVCT) CEO Alastair Smith joins DirectorsTalk to discuss interims for the 6 months period, up to 30th June. Alastair talks us through the highlights, the major milestones that they expect to be hitting over the coming months, government support for COVID 19 testing developments, when we can expect the rapid antigen test and why they appointed Stifel as joint broker.
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.