Avacta Announces Completion of the Sale of Launch Diagnostics
LONDON AND PHILADELPHIA - 25 March 2025 - Further to the announcement made on 7 March 2025, Avacta Group plc (AIM: AVCT), a life sciences company developing next generation peptide drug conjugates (PDC) targeting powerful anti-tumor payloads directly to the tumor, is pleased to announce that all closing conditions to the sale of the entire issued share capital of Launch Diagnostics Holdings Limited and its subsidiaries, its UK-headquartered and largest diagnostics unit, to Duomed Belgium NV, a subsidiary of Palex Healthcare Group S.L.U, have been satisfied and completion of the sale took place yesterday.
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For further information from Avacta, please contact:
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Avacta Group plc Michael Vinegrad, Group Communications Director |
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Peel Hunt (Nomad and Broker) James Steel / Chris Golden |
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Panmure Liberum (Joint Broker) Emma Earl / Will Goode / Mark Rogers |
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ICR Healthcare Mary-Jane Elliott / Jessica Hodgson / Max Bennett |
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Investor Contact Renee Leck THRUST Strategic Communications |
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Media Contact Carly Scaduto Carly Scaduto Consulting |
About Avacta - https://avacta.com/
Avacta Therapeutics is a clinical-stage life sciences company expanding the reach of highly potent cancer therapies with the pre|CISION® platform. pre|CISION® is a proprietary payload delivery system based on a tumor-specific protease (fibroblast activation protein or FAP) that is designed to concentrate highly potent payloads in the tumor microenvironment while sparing normal tissues. Our innovative pipeline consists of pre|CISION® peptide drug conjugates (PDC) or Affimer® drug conjugates (AffDC) that leverage the tumor-specific release mechanism, providing unique benefits over traditional antibody drug conjugates.
About the pre|CISION® Platform
The pre|CISION® platform comprises an anticancer payload conjugated to a proprietary peptide that is a highly specific substrate for fibroblast activation protein (FAP) which is upregulated in most solid tumors compared with healthy tissues. The pre|CISION® platform harnesses this tumor specific protease to cleave pre|CISION® peptide drug conjugates and pre|CISION® antibody/Affimer® drug conjugates in the tumor microenvironment, thus releasing active payload in the tumor and reducing systemic exposure and toxicity, allowing dosing to be optimized to deliver the best outcomes for patients.
About Palex Healthcare Group S.L.U - palexhealth.com
Palex is the European benchmark for advanced solutions in the healthcare sector, with over 70 years of experience providing tailored technological innovations to healthcare professionals and researchers. Its purpose is to improve lives by introducing cutting-edge technology to hospitals, laboratories, and research centers. Palex's approach ranges from selecting state-of-the-art products to offering technical support and specialized training for healthcare and research professionals. The company operates across various fields, including surgery, diagnostics, laboratory and critical care, ensuring solutions adapted to each client's needs. With a presence in multiple countries, Palex remains strongly committed to quality, innovation, and sustainability in the healthcare sector. Through its own brands and strategic partnerships with internationally renowned manufacturers, Palex positions itself as a key partner in the evolution of the medical-scientific sector, contributing to improved efficiency and safety in healthcare.