Key Affimer Patent To Be Granted in China
10 May 2017
Avacta Group plc
("Avacta" or "the Group" or "the Company")
Key Affimer patent to be granted in China
Important step towards addressing the potentially large Chinese diagnostics and therapeutics markets
Avacta Group plc (AIM: AVCT), the developer of Affimer® biotherapeutics and research reagents, is pleased to announce that the principal patent protecting the Affimer technology has been accepted for grant in the People's Republic of China[1]. On issuance, this patent will extend coverage of Avacta's intellectual property into another potentially large market for the Company; considering the therapeutic applications of Affimers alone, China now accounts for more than one fifth of the global therapeutic antibody market[2].
Counterparts to this patent have already been granted in the US, Europe and Japan.
The Affimer technology is based on a small protein that has been engineered to present a "sticky" surface that can be made to bind strongly and specifically to a target of interest such as another protein or virus. The way in which the Affimer has been engineered to give it the ability to bind a target is the core invention covered by Avacta's intellectual property.
The Company is commercialising the Affimer technology through a licensing model to developers of diagnostic and research products, and is building a pipeline of Affimer drugs both in-house and with partners. Protection of the Company's intellectual property in China is an important step in creating commercial partnering opportunities to address the Chinese diagnostic and biopharmaceutical markets.
Dr Alastair Smith, Avacta Group Chief Executive Officer, commented:
"The grant of a robust patent to cover the core Affimer intellectual property in China adds further strength to our global intellectual property position.
We continue to develop the core technology and I look forward to updating the market regarding further expansion of our Affimer intellectual property estate in due course."
ENDS
Notes to Editors
For further information from Avacta Group plc, please contact:
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Avacta Group plc Alastair Smith, Chief Executive Officer Tony Gardiner, Chief Financial Officer
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Tel: +44 (0) 844 414 0452 |
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finnCap Ltd Geoff Nash / Giles Rolls - Nominated Adviser Tim Redfern / Alice Lane - Corporate Broking
WG Partners Nigel Birks / Nigel Barnes David Wilson / Claes Spang |
Tel: +44 (0) 207 220 0500 www.finncap.com
Tel: +44 (0) 203 705 9318 Tel: +44 (0) 203 705 9217
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Zyme Communications (Trade and Regional Media) Katie Odgaard
FTI Consulting (Financial Media and IR) Simon Conway / Natalie Garland-Collins |
Tel: +44 (0)7787 502 947 katie.odgaard@zymecommunications.com
Tel: +44 (0) 203 727 1000 |
About Avacta Group plc (www.avacta.com)
Avacta's principal focus is on its proprietary Affimer® technology which is a novel engineered alternative to antibodies that has wide application in Life Sciences for diagnostics, therapeutics and general research and development.
Antibodies dominate markets worth in excess of $50bn despite their shortcomings. Affimer technology has been designed to address many of these negative performance issues, principally; the time taken to generate new antibodies, the reliance on an animal's immune response, poor specificity in many cases, and batch to batch variability. Affimer technology is based on a small protein that can be quickly generated to bind with high specificity and affinity to a wide range of protein targets.
Avacta has a pre-clinical biotech development programme with an in-house focus on immuno-oncology and bleeding disorders as well as partnered development programmes. Avacta is commercialising non-therapeutic Affimer reagents through licensing to developers of life sciences research tools and diagnostics.
[1] Patent application 200980122473.6
[2] http://www.prnewswire.com/news-releases/global-and-china-monoclonal-antibody-industry-report-2013-2017-252689041.html
This information is provided by RNS
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