\u00a0Avacta is entering the second half of 2026 with a strengthened financial position, advancing clinical programmes and ongoing discussions with potential commercial partners.<\/p>\n
In a trading and business update ahead of today’s annual general meeting, the AIM-listed life sciences business said it had extended its cash runway into early 2027 after raising \u00a341.5m over the past 18 months.<\/p>\n
Chief executive Christina Coughlin said the company had made ‘strong progress’ across its oncology portfolio during the first half of the year, including the launch of a clinical programme for its next-generation cancer treatment candidate AVA6103.<\/p>\n
The company began dosing patients in March in its Phase 1 FOCUS-01 trial of AVA6103, a tumour-activated chemotherapy based on Avacta’s proprietary pre|CISION platform. The trial is continuing to recruit patients, with initial clinical data expected later this year.<\/p>\n
Avacta said preclinical studies presented during the period showed favourable comparisons with established antibody-drug conjugates using similar payload technologies, including Enhertu and Datroway.<\/p>\n
Beyond its clinical programmes, Avacta said it continued to expand intellectual property protection around its third-generation AVA6207 platform, which combines multiple payload technologies designed to improve cancer drug delivery.<\/p>\n
The update comes after a period of fundraising activity. In March, Avacta completed an oversubscribed \u00a310m placing and subscription. A further \u00a39m was raised from institutional investors and existing shareholders earlier this month, allowing the company to reduce debt associated with its Heights convertible bond while strengthening the balance sheet.<\/p>\n
The company also confirmed that Richard Hughes has formally taken up the role of non-executive chairman. A further board appointment is expected shortly, with Avacta finalising the recruitment of a non-executive director who will also serve as deputy chairman and senior independent director.<\/p>\n
Looking ahead, investors are awaiting the first clinical readout from AVA6103 in the second half of the year, alongside further data from the AVA6000 programme expected to be presented during this week’s BIO International Convention and at a medical congress later in the third quarter.<\/p>\n
Avacta said discussions with multiple parties regarding potential partnerships across its first, second and third-generation assets remain ongoing.<\/p>\n","protected":false},"excerpt":{"rendered":"
The AIM-listed life sciences business said it had extended its cash runway into early 2027 after raising \u00a341.5m over the past 18 months<\/p>\n","protected":false},"author":271992,"featured_media":2154596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53262,120781],"coauthors":[137100],"class_list":["post-2156467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-markets","tag-featured-story","tag-yorkshire"],"yoast_head":"\n