Avacta Group PLC - Avacta and Daewoong Establish Joint Venture
Collaboration to develop next generation cell and gene therapies incorporating Affimer proteins
Mesenchymal stem cells (MSCs) are promising agents for the treatment of autoimmune and inflammatory diseases. The joint venture will develop a new class of MSCs that are primed to produce Affimer proteins, which are designed to enhance the immune-modulatory effect when administered to patients, by reducing inflammatory and autoimmune responses.
Daewoong will provide the joint venture with access to its proprietary technology for generating allogeneic MSCs from a single donor to treat a large number of patients. This proprietary technology facilitates the development of cell therapies as "off-the-shelf" products.
"Cell and gene therapies are attracting intense clinical and commercial interest. We are very excited to establish this joint venture with Daewoong, one of the top pharmaceutical companies in
"Within the last six months alone we have seen early stage stem cell companies acquired for significant sums. For example, Bayer acquired control of Blue Rock for
"This joint venture will have a unique opportunity to generate superior cell therapies for some of the most pressing needs in immune-mediated disease. We look forward to working closely with the Daewoong team to develop these new medicines, and get them to the patients who need them."
"Our partnership reinforces the companies' shared vision of designing the next level of treatment paradigm, and opens up a new horizon in immunotherapeutic strategies. This innovative collaboration will deliver invaluable synergy and lead to new solutions to transform patients' lives."
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For further information from
Tel: +44 (0) 844 414 0452
finnCap Ltd (Nominated Adviser and Joint Broker)
Tel: +44 (0) 207 220 0500
Yellow Jersey PR (Financial Media and IR)
Tel: +44 (0)7764 947 137
Tel: +44 (0)7544 275 882
Tel: +44 (0)7787 502 947
The Company benefits from near-term revenues generated from Affimer reagents for diagnostics, bioprocessing and research, through a separate business unit based in Wetherby,
The Affimer platform is an alternative to antibodies derived from a small human protein. Despite their shortcomings, antibodies currently dominate markets worth in excess of
By combining these two platforms the Company is building a wholly owned pipeline of novel cancer therapies with the aim of creating effective treatments for all cancer patients including those who do not respond to existing immunotherapies.
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About Daewoong Pharmaceutical http://www.daewoong.com
Established in 1945, Daewoong Pharmaceutical Co., Ltd. is a leading South Korean pharmaceutical company that develops, manufactures, and commercializes pharmaceuticals for both domestic and international markets. With its strong and competent in-house R&D and qualified manufacturing facilities (cGMP), Daewoong provides a total healthcare solution to customers across the globe. Aiming to become a global healthcare company, Daewoong has broadened international operations by establishing branch offices and research centers throughout
This information is provided by RNS, the news service of the
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