Avacta Group plc (AIM: AVCT), the developer of Affimer® biotherapeutics and reagents, is pleased to announce that its initial study with Glythera Limited, the developer of next generation antibody drug conjugates, has concluded successfully. Following this study the two companies have agreed the terms of a licensing deal which will allow them to develop drug conjugates using the combined technologies. The detailed terms of the license have not been disclosed but Avacta would receive development milestone payments and royalties on sales of an approved drug developed by Glythera.
The antibody drug conjugate market is estimated to be worth around $1bn today from two approved compounds and is expected to be worth $14.6bn annually by 20301. Drug conjugates combine a chemotherapy (toxin) with a protein such as an antibody or Affimer to target that toxin to the tumor.
Avacta and Glythera have carried out a proof-of-concept study designed to ...
