Appointment of Chief Business Officer
19 Diciembre 2023 - 6:00AM
19 December
2023
Avacta Group plc
(“Avacta” or “the Group” or “the Company”)
Appointment of Chief Business
Officer
Appointment signals commercial emphasis for
Avacta to leverage clinical progress
Avacta Group plc (AIM: AVCT), a life sciences
company developing innovative, targeted oncology drugs and powerful
diagnostics, is pleased to announce the appointment of Dr Simon
Bennett as Chief Business Officer of the Therapeutics Division.
Simon has over 26 years’ commercial experience
in the biopharma industry. He has worked with companies from large
and mid-sized pharma such as Bristol-Myers-Squibb and Menarini
Group to early stage biotechs, supporting business development and
licensing activities in addition to being involved in all aspects
of business and corporate development. Simon has been involved in
over 80 commercial deals across Europe, North America, Australasia,
Japan, Russia/CIS and South America.
Dr Alastair Smith, Chief Executive
Officer of Avacta Group, commented:“As Chief Business
Officer, Simon will work closely with the senior management team
and lead commercial strategy and business development activities at
this exciting period in the Company’s development as compelling
clinical data emerges from the AVA6000 phase 1 trial.
“These emerging data give us, for the first
time, the opportunity to accelerate ongoing discussions as well as
to generate new opportunities through our business development
activities aimed at delivering licensing opportunities for the
pre|CISIONTM and Affimer® platforms.”
Simon’s career began at University of Oxford
spin-out, Oxagen Limited where he established and built a franchise
in Women’s Health, initially as Programme Director and later as
Director of Business Development. He subsequently joined next
generation sequencing company Solexa where, as Business Development
Director, he was responsible for all commercial activities and
external communications leading up to the reverse takeover of
Nasdaq-listed Lynx Therapeutics to form Solexa Inc. which was later
acquired by Illumina. Since then, Simon has worked as a consultant
providing expert commercial and business development resources to a
wide range of biopharmaceutical companies. Prior to moving into
industry, Simon was a Wellcome Trust Research Fellow at the
University of Oxford and an Honorary Clinical Lecturer at Imperial
College London. He has published widely, particularly in the field
of complex disease genetics.
Dr Simon Bennett, Chief
Business Officer, Avacta Therapeutics commented:“Avacta is
at a pivotal point, having recently announced clinical data that
have already begun to generate interest from potential commercial
partners. I am delighted to be joining at such an exciting point in
the journey of the business, to help the team optimise
the commercial opportunities of their technologies and
assets.”
-Ends-
For further information from Avacta
Group plc, please contact:
Avacta Group
plcAlastair Smith, Chief Executive OfficerTony Gardiner,
Chief Financial OfficerMichael Vinegrad, Group Communications
Director |
Tel: +44 (0) 1904 21 7070www.avacta.com |
Stifel Nicolaus Europe
Limited (Nomad and Joint Broker)Nicholas Moore / Nick
Adams / Samira Essebiyea / Nick Harland / William Palmer-Brown |
Tel: +44 (0) 207 710 7600www.stifel.com |
Peel Hunt (Joint
Broker)James Steel / Chris Golden / Patrick Birkholm |
Tel: +44 (0) 207 418 8900www.peelhunt.com |
ICR Consilium (Media and
IR)Mary-Jane Elliott / Jessica Hodgson / Sukaina
Virji |
avacta@consilium-comms.com |
About Avacta Group plc -
https://www.avacta.com
Avacta Group is a UK-based company focused on
improving healthcare outcomes through targeted cancer treatments
and diagnostics.
Avacta has two divisions: an oncology biotech
division harnessing proprietary therapeutic platforms to develop
novel, highly targeted cancer drugs, and a diagnostics division,
which is executing on an M&A led growth strategy to create a
full-spectrum diagnostics business focused on supporting healthcare
professionals and broadening access to testing. Avacta’s two
proprietary platforms, Affimer® and pre|CISION™ underpin its cancer
therapeutics whilst the diagnostics division leverages the Affimer®
platform to drive competitive advantage in its markets.
The pre|CISION™ platform modifies chemotherapy
to be activated only in the tumour tissue, reducing systemic
exposure and toxicity. This is achieved by harnessing an enzyme
called FAP which is highly upregulated in most solid tumours
compared with healthy tissues, turning chemotherapy into a
“precision medicine”. The lead pre|CISION™ programme, AVA6000 a
tumour activated form of doxorubicin, is in Phase 1 studies and has
shown dramatic improvement in safety compared with standard
doxorubicin, and early signs of clinical activity.
Affimer® is a novel biologic platform which has
significant technical and commercial advantages compared with
antibodies and is used both to develop advanced immunotherapies and
to improve the performance of immunodiagnostics.
With a balanced business and capital allocation
model: a high-value oncology pipeline supported by a revenue
generating, fast-growing diagnostics business, Avacta seeks to
create long-term shareholder value alongside patient benefit.
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