Pre-clinical trials boost Avacta
Diagnostics specialist Avacta'‹'‹, which makes devices to speed up and reduce the cost of drug development, reported strong progress in pre-clinical trials of Affimers '“ its high-tech alternative to antibodies.
The Wetherby-based company said its Affimer technology is being evaluated by 13 large pharma and biotechs, including four of the ten largest pharma companies.
Avacta’s CEO Dr Alastair Smith said: “I am very pleased with progress in the period. It is good to see the number and quality of customers and partners that are evaluating the Affimer technology growing steadily as potential licensing and commercial relationships arising from these evaluations are key to maximising medium and long-term value.
The group said that as it commercialises its Affimer technology, the variety and structure of commercial agreements is becoming clearer.
It expects revenue for the full year to be around £2.5m.