Life sciences business set to break into Chinese markets

Listed life sciences business Avacta is set to receive a patent in China for its Affirmer technology, allowing it to break into a major market.

The company said that China accounts for more than one fifth of the global therapeutic antibody market.

The People’s Republic has now accepted the Wetherby-based business’ application for patent, and counterparts have already been granted in the US, Europe and Japan.

The Affimer technology is based on a small protein that has been engineered with a “sticky” surface that can be made to bind strongly and specifically to a target of interest such as another protein or virus. The way in which the Affimer has been engineered to give it the ability to bind a target is the core invention covered by Avacta’s intellectual property.

The company has undertaken the process of commercialising its Affimer technology through a licensing model to developers of diagnostic and research products.

Dr Alastair Smith, Avacta Group chief executive Ooficer, commented: “The grant of a robust patent to cover the core Affimer intellectual property in China adds further strength to our global intellectual property position.

“We continue to develop the core technology and I look forward to updating the market regarding further expansion of our Affimer intellectual property estate in due course.”

Losses widened at the business, it reported in April, due to a major investment in R&D. Its share price jumped 11% the following day after it reported revenues of £1.26m and that it had moved on to human samples for its Affirmer product.