Director/PDMR Shareholding

RNS Number : 5963F
Avacta Group PLC
08 November 2022
 

 

8 November 2022

 

Avacta Group plc

 

("Avacta" or "the Group" or "the Company")

 

Director/PDMR Shareholding

 

Avacta Group plc (AIM: AVCT), a clinical stage biopharmaceutical company developing innovative cancer therapies and powerful diagnostics based on its proprietary Affimer® and pre|CISION™ platforms , today confirms that following the Company's Open Offer announcement on 18 October 2022, Dr. Eliot Forster, Non-Executive Chairman of the Company, subscribed for 1,260 ordinary shares of 10p each (the "Ordinary Shares") in the Open Offer at 95 pence per share.

 

Following his subscription, Dr. Eliot Forster owns 169,593 Ordinary Shares in the Company, representing 0.06% of the Company's issued share capital.

 

Capitalised terms used but not otherwise defined in the text of this announcement shall have the meaning given to them in the Company's announcements on the 18 October 2022.

 

 

-Ends-

 

 

For further information from Avacta Group plc, please contact:

 

Avacta Group plc

Alastair Smith, Chief Executive Officer

Tony Gardiner, Chief Financial Officer

Michael Vinegrad, Group Communications Director

 

Tel: +44 (0) 1904 21 7070

www.avacta.com

Stifel Nicolaus Europe Limited (Nomad and Broker)

Nicholas Moore / Nick Adams / Samira Essebiyea / Nick Harland / Dhiren Suares / William Palmer-Brown

 

Tel: +44 (0) 207 710 7600

www.stifel.com

FTI Consulting (Financial Media and IR)

Simon Conway / Alex Shaw / George Kendrick

 

Tel: +44(0) 203 727 1000

Avacta.LS@fticonsulting.com

Zyme Communications (Trade and Regional Media)

Lily Jeffery

 

Tel: +44 (0)7891 477 378

lily.jeffery@zymecommunications.com

 

About Avacta Group plc - https://www.avacta.com

 

Avacta Group is developing novel cancer immunotherapies and powerful diagnostics based on its two proprietary platforms - Affimer® biologics and preCISION™ tumour targeted chemotherapies.

 

The Affimer® platform is an alternative to antibodies and is derived from a small human protein. Affimer technology has been designed to address many of the negative issues of antibodies, principally: the time taken to generate new antibodies, the reliance on an animal's immune response; poor specificity in many cases; in addition to, the complexity and high cost of manufacture. Despite these shortcomings, antibodies currently dominate markets, such as diagnostics and therapeutics, which are worth in excess of $100bn.

 

Avacta's preCISION™ targeted chemotherapy platform is designed to selectively release active chemotherapy in FAP rich tumour tissue to limit the systemic exposure that causes damage to healthy tissues, and thereby aims to improve the overall safety and therapeutic potential of these powerful anti-cancer treatments.

 

The Avacta Group comprises two divisions: The therapeutics development activities are based in London, UK and a separate diagnostics business unit is based in Wetherby, UK. The Group is generating near-term revenues from Affimer® reagents for diagnostics, bioprocessing and research.

 

Avacta's Diagnostics Division is developing an in-house pipeline of Affimer-based diagnostic assays, including the AffiDX® SARS-CoV-2 Lateral Flow Rapid Antigen Test, and works with partners world-wide to develop bespoke Affimer® reagents for third party products.

 

Avacta's Therapeutics Division is working to generate more tolerable and durable treatments for oncology patients who do not respond to existing therapies. By combining its two proprietary platforms the Group is building a wholly owned pipeline of clinically differentiated cancer therapies. In 2021 Avacta transitioned to become a clinical stage biopharmaceutical company, when it commenced a phase I trial in patients with locally advanced or metastatic selected solid tumours. The study was a first-in-human, open label, dose-escalation and expansion study of the Group's lead preCISION™ prodrug, AVA6000 (a pro-doxorubicin).

 

Avacta has established drug development partnerships with pharma and biotech, including a multi-target deal with LG Chem worth up to $400m, a joint venture in South Korea with Daewoong Pharmaceutical focused on cell and gene therapies incorporating Affimer immune-modulators and a recent license agreement with Point Biopharma for them to develop radiopharmaceuticals based on the preCISION™ platform.

 

To register for news alerts by email go to www.avacta.com/investor-news-email-alerts

 

 

ANNEX

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Dr. Eliot Forster

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Non-Executive Chairman

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Avacta Group PLC.

b)

 

LEI

 

 

2138009U3EG31OPMGH36

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

 

a)

 

Description of the financial instrument, type of instrument

Ordinary Shares of 10p each



Identification code

ISIN: GB00BYYW9G87



b)

 

Nature of the transaction

 

 

Open Offer

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




95.00p

1,260







d)

 

Aggregated information



  Aggregate Total

Volume(s)

£1,197.00

1,260






 



e)

 

Date of the transaction

 

 

8 November 2022

f)

 

Place of the transaction

 

 

London Stock Exchange, AIM Market

 

 

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END
 
 
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