Option Activated By Partner Company

An option to enter into an exclusive licensing agreement has been activated by Moderna with respect to certain Affimers developed by Avacta Group against a potential therapeutic target that has been part of an ongoing research collaboration between the two companies.

The pre-agreed terms formed in 2015, would enable the further research, development and commercialisation of Affimers selected by Moderna and the possibility of Avacta receiving undisclosed payments upon future clinical development milestones and royalties in connection with future product sales.

Dr Alastair Smith, Avacta Group Chief Executive Officer, commented: “I am delighted to report that Moderna has exercised its option to enter into this exclusive license agreement with respect to certain Affimer molecules that have been generated through our collaboration. This is further strong validation of the potential of the Affimer drug platform to generate differentiated therapeutic molecules for development. We will continue to support Moderna and their development objectives and I look forward to updating the market as and when key development milestones are met.”