Over the past year, the capital markets have been dominated by the Ukraine/Russian war, interest rates, inflation and the cost of living crisis. So it was a breath of fresh air to attend Avacta (AVCT) Therapeutics Science Day yesterday and get back to fundamentals.
Although no material new information disclosed, the four hour session was a treasure trove of fascinating data, information and comments from respected key opinion leaders across the world on topics ranging from Avacta’s ongoing AVA6000 prodoxorubicin phase 1a trial and therapeutic pipeline, to information-packed presentations on soft tissue sarcomas and CAR-T therapies.
For me, there were eight main takeaways:
1) AVA6000. Doxorubicin is still the “gold standard” for treating many hard tumours. And “if we can come up with a better [version], then overnight it could become the standard of care” with a $1.38bn TAM by 2024 according to Dr William Tap. Note that in September 2022, the US FDA granted Orphan Drug Designation to AVA6000 for soft tissue sarcomas.
2) AVA6000. Alongside demonstrating positive safety and tumour biopsy data, the Phase1a trial has also confirmed the existence of ‘cleaved’ waste material in patient urine samples. This indicates once again that the prodrug is operating as designed.
3) AVA6000. When determining the ‘Maximum Tolerated Dose’, the length of patient treatment and number of cycles is at least as important as the potency of the chemo-warhead.
4) AVA6000. Given Doxorubicin is already well understood, then assuming things go to plan, regulators might offer AVA6000 an ‘accelerated Phase 3 clinical trial’, which would shorten development timescales and cost.
5) AVA6000. Elsewhere Prodoxurubicin (if successful) might be used too in combination with Checkpoint inhibitors, CAR-T therapies, and other similar treatments.
6) AVA3996 (a FAP α -activated analogue of Velcade). Likewise, initial pre-clinical studies for AVA3996 have shown promising performance in mice. Hopefully clinical trials will start in 2024. Here the global proteasome inhibitors' market is estimated to be $2.3bn by 2026, with Velcade representing c. 50%.
7) Affimers. With regards the latest advances in gene therapy and CAR-T cells, Affimers could become increasingly more important in improving the efficacy of these treatments. Currently they rely almost exclusively on antibodies, yet as they become more complex (eg bispecifics & trispecifics), then the uniform nature, greater flexibility and improved repeatability of Affimers could mean they become a 'go to' enabler.
8) Pipeline. In total, Avacta is now progressing 5 drug candidates of its own. On top, there are also a number of promising licensee and joint venture opportunities with the likes of Daewoong and LG Chem
Apologies if I’ve missed anything, but all the slide presentations & audio recordings should be available on Avacta's website later today.
Avacta: highlights from its therapeutic science day
Feb 24, 2023Disclaimer & Declaration of Interest
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