22nd Jun 2026 11:58
(Alliance News) - Avacta Group PLC on Monday said it continued its "strong progress" in the first half of 2026.
On the day of its annual general meeting, the London-based clinical-stage biopharmaceutical company's Chief Executive Officer Christina Coughlin said: "Avacta has continued its strong progress in the first half of 2026, initiating the clinical program with our Gen Two product AVA6103 and presenting updated data on the Gen One AVA6000, which further validate our unique pre|CISION technology. We believe this platform has the potential to significantly improve treatment options, and the data we are generating are reinforcing its value, both for cancer patients and potential partners."
"Our progress is supported by a strengthened leadership team as we welcome Richard Hughes into his new role as non-executive chairman. We are completing the appointment of a new non-executive director who will act as deputy chairman and the senior independent director.
"We move forward with a strong financial foundation, having extended our cash runway into early Q1 2027 and reduced outstanding debt in the Heights Convertible Bond. We have raised GBP41.5 million in the last 18 months, providing funds beyond multiple value-inflection points including initial clinical data on AVA6103. In parallel, we are continuing our constructive partnering discussions with multiple parties on assets across our pipeline."
The firm anticipates initial clinical data in the AVA6103 programme late in the second half of 2026.
Meanwhile, it highlighted continuing discussions with multiple parties on potential partnering of first, second and third generation assets.
Avacta shares were 2.7% higher at 75.00 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Avacta Group