Market round-up: Avacta and Drax
Wetherby-based life sciences business business, Avacta Group has signed a collaboration and license agreement with AffyXell Therapeutics the recently established joint venture with Daewoong Pharmaceutical.
The agreement allows Affimer proteins to be developed and be used by AffyXell for the generation of new cell and gene therapies.
The initial focus for AffyXell will be on inflammatory and autoimmune diseases. In the longer term, there is potential for AffyXell to address oncology uses for these Affimer-enabled cell and gene therapies.
Under the terms of the collaboration and license agreement, Avacta’s research and development costs associated with generation of the Affimer proteins will be funded by AffyXell. In addition, Avacta will retain the rights to commercialise the Affimer proteins outside of the field of cell therapies.
Dr Alastair Smith, Chief Executive Officer of Avacta Group, commented:”The potential for AffyXell’s new class of cell therapies, which can be applied to a wide range of inflammatory and autoimmune diseases, is enormous.The potential to make a difference in the quality of life for millions of patients continues to inspires us, as we know it does our colleagues at Daewoong as well.”
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Drax has confirmed agreements to provide a total of 2,562MW of capacity (from its existing gas, pumped storage and hydro assets.
The agreements which cover the period October 2022 to September 2023 at a price of £6.44/kW, is worth £15 million.
Drax did not accept agreements for its two coal units at Drax Power Station or the small Combined Cycle Gas Turbine (CCGT) at Blackburn Mill and will now assess options for these assets, alongside discussions with National Grid, Ofgem and the UK Government.
A new-build CCGT at Damhead Creek and four new-build Open Cycle Gas Turbine projects participated in the auction but exited above the clearing price and did not accept agreements.
