Avacta Group (AVCT ) said it has entered into a global distribution agreement with ABCAM to sell the Company's recently developed SARS-CoV-2 research ELISA Affimer® reagents.

Affimer® reagents can be used in a ELISA lab test to detect the SARS-CoV-2 spike protein with ‘high sensitivity and excellent specificity’ for the spike protein of the original strain of COVID-19 as well as other dominant variants such as B117 ("Kent" strain) and D614G.

Avacta first announced its intention to launch an ELISA laboratory test for the SARS-CoV-2 spike protein to support global research efforts into COVID-19 back in September 2020.

Last month, upon its announcement that the AffiDX® SARS-CoV-2 rapid antigen lateral flow test can detect the dominant new variants of the coronavirus as well as the original strain, Avacta told investors that this could also be applied in Affimer reagents for new variants. 

At the time it said it could “easily insert Affimer reagents that can be very rapidly developed for new variants if necessary, and indeed in response to any other future pandemic virus.”

Under today’s agreement, ABCAM will enable the global research community to access Avacta's SARS-CoV-2 spike protein Affimer® research reagents through its on-line catalogue.

Dual-listed ABCAM is a leading supplier of high-quality biological reagents and kits which are used in a wide range of fields including drug discovery, diagnostics and basic research.

Avacta believes this global agreement will allow scientists around the world to perform the ELISA test in their own laboratories and support the global fight against the pandemic.

"We are delighted that we have established a global route to market for the SARS-CoV-2 spike protein Affimer® reagents through ABCAM's dedicated global commercialisation infrastructure,” commented Dr Alastair Smith, Chief Executive Officer of Avacta Group. 

He added that, “As far as we are aware, our spike protein ELISA test is the most sensitive test of its kind and, in ABCAM, we have a world-leading partner capable of maximising the commercial potential of the Affimer® reagents by making them globally available to scientists who are researching into the SARS-CoV-2 coronavirus.”

Today’s news marks a further distribution for the company whose next milestone will be to achieve full clinical validation and CE marking for its AffiDX® rapid antigen lateral flow test. 

Shares in Avacta Group have nearly doubled in value since the beginning of the year. The stock was trading 2.15% higher this morning at 238p following the announcement.

Reasons to AVCT

Avacta is developing cancer immunotherapies and diagnostics based on its two proprietary platforms - Affimer® biologics and pre|CISION™ tumour targeted chemotherapies.

Its Affimer platform is an alternative to antibodies derived from a small human protein. 
Despite their shortcomings, antibodies currently dominate markets, such as diagnostics and therapeutics, which is a market that is believed to be worth in excess of $100bn.

Therapeutics

The pre|CISION targeted chemotherapy platform releases active chemotherapy in the tumour, which limits the systemic exposure that causes damage to healthy tissues, and thereby improves the overall safety and therapeutic potential of these powerful anti-cancer treatments.

Avacta's Therapeutics Division is addressing ‘a critical gap in current cancer treatment’ - the lack of a durable response to current immunotherapies experienced by most patients. 

By combining its two proprietary platforms the Company is building a wholly owned pipeline of novel cancer therapies designed to be effective for all cancer patients. 

In 2021, Avacta commenced a phase 1 first-in-human, open label, dose-escalation and expansion study of AVA6000 Pro-doxorubicin, the Company's lead pre|CISIONTM prodrug, in patients with locally advanced or metastatic selected solid tumours.

COVID-19 Test Development

Avacta has also developed a SARS-CoV-2 lateral flow rapid antigen test aimed at identifying infectious individuals so that they can isolate promptly and reduce the spread of COVID-19. 

Recent data returned earlier this week from the Company’s ongoing clinical studies across Europe and the UK demonstrated an ‘excellent performance’ of the SARS-CoV-2 rapid antigen test in identifying patients with an infectious viral load and no false positive results.

As a result of ‘excellent initial data’, the Company said it will now progress to a full clinical validation with a larger number of patient samples to CE mark the test for professional use, aiming to bring the test to market in Europe around the end of the first quarter of this year. 

These data from the first clinical studies will allow it the Group to advance into a full clinical validation of the test, manufactured at scale, at its clinical trial sites in the UK and the EU.

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