Avacta signs new agreement

The deal is with Cold Spring Biotech Corp and will cover mainland China, Hong Kong and Taiwan, which Avacta said was a strategically important market for the company.

Optim has been developed to accelerate and reduce the cost of drug development by providing early analysis of compounds.

Avacta said Optim delivers vital information tens of times faster than rivals and uses sample that are one hundred times smaller.

This allows drug developers to get an insight into candidate drug compounds at a much earlier stage of development, which leads to a significant reduction in the likelihood of failure and reduces the overall costs of bringing new drugs to market.