Business
Grant Funding Awarded
Grant Funding Awarded.
About this update from Avacta Group Plc
[{"type":"text","content":"\n \nRNS Number : 8916P Avacta Group PLC 24 February 2016 \n\n24 February 2016\n \nAvacta Group plc\n(\"Avacta\" or \"the Group\" or \"the Company\")\n \nAvacta Awarded Grant Funding\n \nAvacta to develop and potentially commercialise novel Affimer reagents to reduce use of animals in life sciences research\n \nPotential to deliver substantial cost savings in global production of genetically engineered mice\n \nAvacta Group plc (AIM: AVCT), the developer of Affimer® biotherapeutics and research reagents, is pleased to announce that it has been awarded a grant to work with the Mary Lyon Centre at MRC Harwell to develop novel Affimer reagents which could help reduce the use of animals in life sciences research. This has the potential to deliver substantial cost savings in the global production of genetically engineered mouse models, providing a significant commercial opportunity for the Company. \n \nGenetically engineered mice are a widely used and essential tool in biomedical research and drug development. If the efficiency of the mice breeding programmes could be improved, the cost of production would be reduced and fewer animals would be required, providing ethical as well as commercial benefits.\n \nDr Alastair Smith, Avacta Group Chief Executive Officer, commented:\n\"We are grateful to NC3Rs for providing the funding that will allow us to develop Affimer inhibitors of inhibin, which we will provide to MRC Harwell for evaluation. If successful then there is a potentially very large global market for such Affimer reagents that will reduce the costs of production and the number of mice used each year in breeding programmes. We are delighted to be working with MRC Harwell on this project which could also open the way to applications in human IVF treatments.\" \n \nAvacta has been awarded a CRACK IT Solutions technology partnering grant by NC3Rs, a UK-based scientific organisation dedicated to replacing, refining and reducing the use of animals in life sciences research. The grant provides funding for Avacta to develop Affimer inhibitors of a protein called inhibin. Inhibiting the action of this protein stimulates the production of greater numbers of embryos per mouse, a process called superovulation, which increases overall efficiency of a breeding programme. The Mary Ly...