Business
Avacta and Daewoong Agreement
Avacta and Daewoong Agreement.
About this update from Avacta Group Plc
[{"type":"text","content":"\n \nRNS Number : 6520B Avacta Group PLC 03 February 2020 \n\n \n \n \n3 Feburary 2020\n \nAvacta Group plc\n(\"Avacta\" or \"the Group\" or \"the Company\")\n \nAvacta and Daewoong Agree Collaboration and License Agreement with AffyXell Therapeutics \n \nLicense agreement to utilise Affimer proteins in next generation cell and gene therapies\n \nAvacta Group plc (AIM: AVCT), the developer of Affimer® biotherapeutics and reagents, is pleased to announce that it has signed a collaboration and license agreement with AffyXell Therapeutics (\"AffyXell\"), the recently established joint venture with Daewoong Pharmaceutical (\"Daewoong\"), to develop Affimer proteins to be used by AffyXell for the generation of new cell and gene therapies.\n \nAvacta and AffyXell will now work together to develop Affimer proteins against a range of targets which, when produced by mesenchymal stem cells (MSCs), are intended to inhibit inflammatory and autoimmune pathways and improve the overall efficacy of MSCs, creating a next generation of stem cell therapies. \n \nThe initial focus for AffyXell will be on inflammatory and autoimmune diseases. In the longer term, there is potential for AffyXell to address oncology uses for these Affimer-enabled cell and gene therapies. \n \nUnder the terms of the collaboration and license agreement, Avacta's research and development costs associated with generation of the Affimer proteins will be funded by AffyXell. In addition, Avacta will retain the rights to commercialise the Affimer proteins outside of the field of cell therapies. \n \nDr Alastair Smith, Chief Executive Officer of Avacta Group, commented: \n\"The potential for AffyXell's new class of cell therapies, which can be applied to a wide range of inflammatory and autoimmune diseases, is enormous. We are therefore very excited by the opportunity to be part of this new venture and to demonstrate the power of Affimer proteins in the field of engineered cell therapies. \n\"Our objective is for these cell therapies to finally fully address diseases, such as inflammatory bowel diseases and multiple sclerosis, as well as other autoimmune diseases, such as chronic obstructive pulmonary disease. The potential to make a difference in the quality of life for millions of patients cont...