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Avacta Selects Second pre|CISIONTM Pro-drug Candidate for Development

10:06, 18th January 2022

Despite the share price volatility, many investors forget that Avacta owns 2 valuable scientific platforms. The first being it's #Affimer technology that is used to create 1st class immunotherapies, diagnostics & medical purification products. 

The 2nd is the pre|CISION platform that already has Prodoxurubin (AVA6000) in phase 1 clinical trials with initial ‘pk’ data due for release shortly. 

This morning came further encouraging news that a 2nd lead candidate AVA3996, had been selected with aim of commencing Phase I clinical trials in H2’23. 

Indicating to me too that the underlying data so far from the ongoing Prodoxorubicin study is also positive. As otherwise management probably would not have taken this important decision just yet.

Similarly the upside is significant, as AVA3996 - being a FAP-targeted proteasome inhibitor - addresses a market that is expected to be worth $2.3bn by 2026.

CEO Alastair Smith adding: “We are excited by the early pre-clinical data for AVA3996, the 2nd of Avacta's pre|CISION pro-drugs following on from AVA6000."

"The pre|CISION platform has the potential to generate a significant pipeline of safer, better tolerated chemotherapies to treat a wide range of cancers. It represents a major commercial opportunity and the principal value driver for the Group.”

"If AVA3996 is shown to have a significantly improved safety profile. Then not only could it provide a better tolerated treatment for multiple myeloma, but it has the potential to be the first proteasome inhibitor to be suitable for treating solid tumours, thereby significantly increasing the market opportunity."

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