Avacta Group (AVCT); announces that Moderna exercised its option for an exclusive product license

Published on 04-02-2019 08:19:38
Author Sparks Team
Avacta Group (AVCT); announces that Moderna exercised its option for an exclusive product license

Avacta Group announced that ModernaTX has exercised its option to enter into an exclusive licensing agreement with regard to certain Affimers. The agreement is against a potential therapeutic target that has been part of an ongoing research collaboration between the two companies.

Avacta and Moderna entered into a collaboration, license and option agreement in 2015. Under this agreement, Moderna was granted exclusive access to Avacta’s Affimer technology for certain collaboration targets and the option to enter into exclusive license agreements on pre-agreed terms to further research, develop and commercialise Affimers selected by Moderna.

According to the agreement terms, the group may receive undisclosed payments upon future clinical development milestones and royalties in connection with future product sales.

Dr. Alastair Smith, Avacta Group’s CEO, commented: “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.”

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