Business
Key Affimer Patent To Be Granted in China
Key Affimer Patent To Be Granted in China.
About this update from Avacta Group Plc
[{"type":"text","content":"\n \nRNS Number : 5817E Avacta Group PLC 10 May 2017 \n\n10 May 2017\n \nAvacta Group plc\n(\"Avacta\" or \"the Group\" or \"the Company\")\n \nKey Affimer patent to be granted in China\n \nImportant step towards addressing the potentially large Chinese diagnostics and therapeutics markets\n \nAvacta 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]. \n \nCounterparts to this patent have already been granted in the US, Europe and Japan.\n \nThe 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. \n \nThe 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. \n \nDr Alastair Smith, Avacta Group Chief Executive Officer, commented:\n \n\"The grant of a robust patent to cover the core Affimer intellectual property in China adds further strength to our global intellectual property position. \n \nWe 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.\" \n \nENDS\n \nNotes to Editors\n \nFor further information from Avacta Group plc, please contact:\n \n\n\n\n\nAvacta Group plc\nAlastair Smith, Chief Executive Officer\nTony Gard...