Avacta inks radiopharma deal with POINT Biopharma

7 January 2021

UK-based Avacta Group (AIM: AVCT) has entered into a license agreement with Canadian firm POINT Biopharma to provide access to Avacta's pre|CISION technology for the development of tumor-activated radiopharmaceuticals.

The radiopharmaceutical market is expected to grow to $15 billion by 2025 and there is a substantial opportunity to grow much faster if safety and tolerability of these effective treatments can be improved, Avacta noted. POINT Biopharma is a clinical-stage pharmaceutical company focused on developing radioligands as precision medicines for the treatment of cancer.

The agreement provides POINT with an exclusive license to the pre|CISION technology for use in the first radiopharmaceutical prodrug the company intends to develop, and a non-exclusive license to the pre|CISION platform for the development of a broader pipeline of FAP-activated radiopharmaceuticals.

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