GCIAvacta Group’s AffyXell enters collaboration to enhance its drug programmes
(AVCT said AffyXell Therapeutics, a joint venture it holds with Daewoong Pharmaceutical, has entered into a new collaboration agreement designed to improve the translation of AffyXell's programmes into human trials and accelerate drug development.
This new collaboration agreement is with Biocytogen, a Chinese company specializing in developing new biological drugs, and the Korea Non-Clinical Technology Solution Center ("KNTSC") which will provide the infrastructure and overall management for pre-clinical trials.
Avacta, a clinical stage oncology drug and diagnostics company, said the collaboration will be aimed at developing new immune disease in vivo models and carrying out proof-of-concept and toxicity testing of AffyXell's drug candidates using the developed disease models.
The new models will benefit from Biocytogen's platform for gene editing, which creates mouse models capable of producing human antibodies. The collaboration is designed to improve the translation of AffyXell's programmes into human trials and to accelerate drug development.
AffyXell Therapeutics was established back in January 2020 by Avacta Group and Daewoong as a joint venture for the development of novel mesenchymal stem cell ("MSC") therapies.
Shares in Avacta Group were trading 8.99% higher this morning at 97p following the news.
AffyXell is combining Avacta's Affimer® platform with Daewoong's MSC platform such that the stem cells are genetically modified to produce and secrete therapeutic Affimer® proteins in situ in the patient. The Affimer® proteins have been designed to enhance the therapeutic effects of Daewoong’s platform to create a novel, next generation cell therapy platform.
Avacta’s research and development costs are fully covered by the joint venture and Avacta retains the rights to commercialise the Affimer proteins outside of the field of cell therapies.
Chief Executive Officer of Avacta Group, Dr Alastair Smith, told investors that he believes this collaboration has the potential to significantly accelerate AffyXell's programmes. He explained to investors: "The quality of pre-clinical disease models and their ability to translate into humans is critical for reducing risk and timelines associated with drug development.”
Sengho Jeon, CEO of Daewoong Pharmaceutical and AffyXell Therapeutics, commented: "Through this contract, the capabilities of the three companies can exert a synergistic effect, providing a foundation for speeding up the development of new drugs. In the future, we will further accelerate the development of cell gene therapy to overcome immune diseases and contribute to improving the quality of life of patients with incurable diseases."
CEO of Biocytogen, Yuelei Shen, said he expects the contract to allow Affyxell to exert “a synergistic effect” on developing next-generation cell gene therapy for immune diseases.
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