Share Prices & Company Research

Market News

24 Jul 2018 | 14:14

Avacta forms collaboration pact with Tufts University in Boston

Biotherapeutics and reagents developer Avacta Group said it had formed a co-development partnership with Bach BioSciences, a company commercialising research conducted at Tufts University School of Medicine, Boston.

The collaboration would develop a new class of drug conjugate therapies with a novel mode of action that combined Avacta's Affimer technology with drug conjugates developed at Tufts.

Avacta said the new conjugate would selectively release a potent drug in the tumour microenvironment, without requiring cellular internalisation of the conjugate as is otherwise traditionally the case.

'We believe that this new drug conjugate platform is transformational for the business,' chief executive Alastair Smith said.

'From our initial discussions with several large pharmaceutical companies, it is clear that there is significant interest and there is certainly the potential for partnering at an early stage once we have the appropriate supporting data from the collaboration with Professor Bachovchin.'

At 2:14pm: (LON:AVCT) Avacta Group PLC share price was +11p at 39.5p

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.