Avacta signs new US com­mer­cial deal

Yorkshire Post - Business - - FRONT PAGE - Ros Snow­don CITY ED­I­TOR @RosSnow­donYPN

Drug de­vel­oper Avacta, which is work­ing on cures for lung, breast and bowel can­cer, has signed a com­mer­cial li­cense with New Eng­land Bi­o­labs, a global leader in the dis­cov­ery of en­zymes.

This is a boost for Wetherby-based Avacta as it en­dorses the group’s tech­nol­ogy ahead of a ma­jor deal with a big phar­ma­ceu­ti­cal firm to help cure can­cer.

The group said it is close to sign­ing a li­cens­ing deal which could trans­form the group’s for­tunes.

An­a­lyst Mark Brewer at Fin­nCap said: “A roy­alty-bear­ing li­cence with New Eng­land Bi­o­labs to com­mer­cialise a prod­uct in­cor­po­rat­ing the Af­fimer tech­nol­ogy for di­ag­nos­tic tests, pro­vides the much-needed ex­ter­nal en­dorse­ment that the mar­ket is crav­ing, but also ev­i­dence that the li­cens­ing busi­ness model for the non-ther­a­peu­tic ap­pli­ca­tions of Af­fimers has merit.”

Avacta said it is on tar­get to come up with a pos­si­ble cure for lung, breast and bowel can­cer within the next 10 years. Avacta will start hu­man tri­als in 2020 to help cure peo­ple us­ing its ground-break­ing tech­nol­ogy.

The group’s CEO, Dr Alas­tair Smith, in­set, be­lieves that if it has the re­sources to make the drugs, it could com­pletely change medicine. He is very con­fi­dent that the group will de­liver a least one sub­stan­tial li­cens­ing deal in the near fu­ture.

The firm is keen to sign mul­ti­ple deals with big pharma firms. Each deal will nar­row down the area of ex­clu­siv­ity to a par­tic­u­lar dis­ease or tar­get so it can sign a num­ber of agree­ments.

Avacta’s tech­nol­ogy is based around Af­fimers – the firm’s high­tech al­ter­na­tive to an­ti­bod­ies. An­ti­bod­ies help fight vi­cious viruses or bac­te­ria in the body by bind­ing to them and tar­get­ing them for de­struc­tion. The prob­lem with cur­rent can­cer ther­a­pies is that they kill off all the cells in their path, not just the can­cer cells.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.