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Avacta Group

Termination of coverage

Update | Pharmaceuticals & healthcare | 05 Jan 2016

Edison Investment Research is terminating coverage on Avacta Group (AVCT). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.

Avacta Group

Accelerating investment into therapeutic Affimers

Flash note | Pharmaceuticals & healthcare | 16 Jul 2015

Avacta has announced a £22m gross placing of up to 1.76bn new shares to invest in the development of therapeutic applications of its Affimer platform. The company has demonstrated that Affimers have many characteristics required of a biotherapeutic platform, in addition to ongoing exploitation as research reagents. The proceeds are earmarked to accelerate development of the most promising Affimer candidates and to rehouse the growing therapeutics team. Our valuation and FY16 financial forecasts are under review pending confirmation of the placing in August.

Avacta Group

Moderna deal shows affinity for Affimers

Update | Pharmaceuticals & healthcare | 05 Jun 2015

Avacta Life Sciences' (ALS) deal with Moderna Therapeutics to develop a range of Affimer-based biotherapeutic candidates is transformational, not only providing an opportunity to increase the value of Affimers as any clinical products progress, but also balancing the company's risk profile and reducing the reliance on Affimers as reagents. ALS will receive $0.5m upfront plus clinical milestone payments for any clinical candidate identified. We have increased our DCF valuation from £51m to £64m.

Avacta Group

Affimers; off to a flying start

Update | Pharmaceuticals & healthcare | 12 May 2015

Avacta targets unmet needs within the $1bn research reagents market and has made excellent progress setting up new strategic partnerships in H115 while building pipeline and order book. Avacta Life Sciences (ALS) is also building pre-clinical data showing that Affimers have the features required of therapeutic scaffold proteins and to differentiate them from antibodies. We hold our valuation at £51m and we note that milestones from any future therapeutic licenses could provide significant upside.

Avacta Group

Optim sale, Affimers on track

Update | Pharmaceuticals & healthcare | 03 Mar 2015

Avacta's disposal of its Optim protein analytical device streamlines the company, emphasising the focus on Affimers. It is advancing its strategy and recently signed three commercial agreements, which could lead to Affimers being used to replace antibodies in the estimated $1bn research antibodies market and significantly raises the profile of the products. We reduce our DCF valuation from £54m to £51m as a result of the disposal.

Avacta Group

Daily comment

Institutional Comment | Pharmaceuticals & healthcare | 15 Jan 2015


Avacta Group

Scaffold in place for future growth

Initiation | Pharmaceuticals & healthcare | 12 Jan 2015

Avacta Life Sciences (ALS) is pioneering the commercialisation of antibody-like protein scaffold technology for research and therapeutic use. Affimers have a range of performance benefits over the gold standard antibodies, making them a potentially disruptive technology. Avacta would need only a small share of the estimated $1bn research antibodies market to support its valuation, with upside potential from therapeutic licensing. We forecast that Avacta Life Sciences will drive the group to profitability, forecast in 2017. Our valuation of Avacta Group is £54m.