{"id":410076,"date":"2021-01-07T03:52:34","date_gmt":"2021-01-07T08:52:34","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=410076"},"modified":"2021-01-07T03:52:34","modified_gmt":"2021-01-07T08:52:34","slug":"avacta-announces-license-agreement-with-point-biopharma-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/avacta-announces-license-agreement-with-point-biopharma-inc\/","title":{"rendered":"Avacta Announces License Agreement With POINT Biopharma Inc."},"content":{"rendered":"

<\/p>\n

Avacta Announces License Agreement With POINT Biopharma Inc.<\/b><\/p>\n

License to utilise Avacta\u2019s pre|CISION FAP-sensitive activation platform for radiopharmaceuticals<\/i><\/p>\n

CAMBRIDGE, England & WETHERBY, England–(BUSINESS WIRE<\/a>)–
\nAvacta Group plc (AIM: AVCT), the developer of innovative cancer therapies and diagnostics based on its proprietary Affimer\u00ae<\/sup> and pre|CISION\u2122 platforms, is pleased to announce that it has entered into a license agreement with POINT Biopharma Inc. (\u201cPOINT\u201d), to provide access to Avacta\u2019s pre|CISION technology for the development of tumour-activated radiopharmaceuticals.\n<\/p>\n

\nThe radiopharmaceutical market is expected to grow to $15 billion by 20251<\/sup> and there is a substantial opportunity to grow much faster if safety and tolerability of these effective treatments can be improved. POINT Biopharma is a clinical-stage pharmaceutical company focused on developing radioligands2<\/sup> as precision medicines for the treatment of cancer.\n<\/p>\n

\nAvacta\u2019s proprietary pre|CISION chemistry can be used to modify a radioligand drug to form a tumour-activated prodrug. The prodrug form is inactive in circulation until it enters the tumour micro-environment where it is activated by an enzyme called fibroblast activation protein (or FAP) that is present in high abundance in most solid tumours but not in healthy tissue. Avacta\u2019s pre|CISION technology therefore has the potential to improve the tolerability and achieve better clinical outcomes for patients compared with standard radiopharmaceuticals by targeting the radioligand treatment more specifically to cancer cells.\n<\/p>\n

\nThe agreement provides POINT with an exclusive license to the pre|CISION technology for use in the first radiopharmaceutical prodrug the company intends to develop, and a non-exclusive license to the pre|CISION platform for the development of a broader pipeline of FAP-activated radiopharmaceuticals.\n<\/p>\n

\nUnder the terms of the agreement, Avacta will receive an upfront fee and development milestones for the first radiopharmaceutical prodrug totaling $9.5 million. Avacta will also receive milestone payments for subsequent radiopharmaceutical prodrugs of up to $8 million each, a royalty on sales of FAP-activated radiopharmaceuticals by POINT and a percentage of any sublicensing income received by POINT.\n<\/p>\n

Alastair Smith, Chief Executive Officer of Avacta Group, commented<\/b>: \u201cI am very pleased to have established this partnership with POINT that allows Avacta to exploit its pre|CISION platform in a therapeutic area outside of our in-house focus on chemotherapy prodrugs. <\/i><\/p>\n

The clinical and commercial rationale for our pre|CISION prodrug platform is to improve the safety and efficacy of many existing drugs, as well as generating a pipeline of new and novel cancer therapies. In oncology, we believe that this approach will result in better response rates for monotherapies, and a greater safety margin, to enable their use with a larger patient population and as part of combination therapies. <\/i><\/p>\n

The in-house development of AVA6000 Pro-doxorubicin, the first of our pre|CISION chemotherapy prodrugs for which we have recently submitted a CTA filing in the UK to begin clinical trials in 2021, has already generated significant interest and this is highlighted by the agreement with POINT announced today. <\/i><\/p>\n

The potential of the pre|CISION platform to significantly improve outcomes for patients treated with existing cancer therapies through improved safety, tolerability and dosing regimens is enormous. In addition, Avacta is combining the pre|CISION technology with the Affimer platform to create an entirely new class of proprietary TMAC drug conjugates.<\/i><\/p>\n

I look forward to updating the market on further progress on these and the diagnostic programmes across the Group in the near term.\u201d<\/i><\/p>\n

1<\/sup>https:\/\/www.marketresearchfuture.com\/reports\/radio-pharmaceutical-market-1650
\n<\/a>
2 <\/sup>For more information about radioligands visit https:\/\/www.radioligands.org<\/a><\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210107005357\/en\/<\/a><\/span><\/p>\n

\nZyme Communications
\n
Katie Odgaard
\n
Tel: +44 (0) 7787 502 947
\n
Katie.odgaard@zymecommunications.com<\/a><\/p>\n

KEYWORDS:<\/b> United Kingdom Europe<\/p>\n

INDUSTRY KEYWORDS:<\/b> Oncology Health Clinical Trials Radiology Pharmaceutical Biotechnology<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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Avacta Announces License Agreement With POINT Biopharma Inc. License to utilise Avacta\u2019s pre|CISION FAP-sensitive activation platform for radiopharmaceuticals CAMBRIDGE, England & WETHERBY, England–(BUSINESS WIRE)– Avacta Group plc (AIM: AVCT), the developer of innovative cancer therapies and diagnostics based on its proprietary Affimer\u00ae and pre|CISION\u2122 platforms, is pleased to announce that it has entered into a license agreement with POINT Biopharma Inc. (\u201cPOINT\u201d), to provide access to Avacta\u2019s pre|CISION technology for the development of tumour-activated radiopharmaceuticals. The radiopharmaceutical market is expected to grow to $15 billion by 20251 and there is a substantial opportunity to grow much faster if safety and tolerability of these effective treatments can be improved. POINT Biopharma is a clinical-stage pharmaceutical company focused on developing radioligands2 as … <\/p>\n

Continue reading “Avacta Announces License Agreement With POINT Biopharma Inc.”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-410076","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAvacta Announces License Agreement With POINT Biopharma Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/avacta-announces-license-agreement-with-point-biopharma-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avacta Announces License Agreement With POINT Biopharma Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Avacta Announces License Agreement With POINT Biopharma Inc. License to utilise Avacta\u2019s pre|CISION FAP-sensitive activation platform for radiopharmaceuticals CAMBRIDGE, England & WETHERBY, England–(BUSINESS WIRE)– Avacta Group plc (AIM: AVCT), the developer of innovative cancer therapies and diagnostics based on its proprietary Affimer\u00ae and pre|CISION\u2122 platforms, is pleased to announce that it has entered into a license agreement with POINT Biopharma Inc. (\u201cPOINT\u201d), to provide access to Avacta\u2019s pre|CISION technology for the development of tumour-activated radiopharmaceuticals. The radiopharmaceutical market is expected to grow to $15 billion by 20251 and there is a substantial opportunity to grow much faster if safety and tolerability of these effective treatments can be improved. 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