Avacta rockets as it inks deal with Bach BioSciences/Tufts

24 July 2018

Shares of UK-based Avacta Group (AIM: AVCT) soared nearly 58% to 45.00 pence this morning, after it revealed a major co-development partnership with a US business.

Avacta has agreed a co-development partnership with Bach BioSciences, a company commercializing the research of William Bachovchin, Professor of Developmental, Chemical and Molecular Biology at Tufts University School of Medicine, Boston, USA.

The collaboration will develop a new class of Affimer drug conjugate therapies with a novel mode of action that combines Avacta’s Affimer technology with drug conjugates developed at Tufts.

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