Share Prices & Company Research

Market News

04 Feb 2019 | 08:32

ModernaTX takes up option to develop, sell Avacta's affimer technology

Avacta Group said Monday that ModernaTX had exercised its option to enter into an exclusive licensing agreement with respect to certain Affimer molecules that had been generated through collaboration between the two companies.

Under the terms of the agreement, Avacta was in line to receive undisclosed payments based on future clinical development milestones and royalties in connection with future product sales. In 2015, Avacta and Moderna entered into a collaboration, license and option agreement under which Moderna was granted exclusive access to Avacta's Affimer technology for certain collaboration targets. It was also graded the option to enter into exclusive license agreements on pre-agreed terms to further research, develop and commercialize Affimers selected by Moderna. 'I am delighted to report that Moderna has exercised its option to enter into this exclusive license agreement with respect to certain Affimer molecules that have been generated through our collaboration. This is further strong validation of the potential of the Affimer drug platform to generate differentiated therapeutic molecules for development,' said Dr Alastair Smith, Avacta Group Chief Executive Officer.

At 8:32am: (LON:AVCT) Avacta Group PLC share price was +2.3p at 44.8p

Story provided by
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.