Research on Avacta Group PLC (AVCT:LON) from Trinity Delta
Avacta is a differentiated clinical-stage oncology specialist, increasingly defined by continuing progress with its second-generation pre|CISION tumour-activated Peptide Drug Conjugate (PDC) platform. The lead Gen Two programme, AVA6103 (FAP-EXd, a FAP-activated, controlled-release exatecan), has delivered initial Phase Ia safety and pharmacokinetic data from the FOCUS-01 trial. These data provide early human validation that the platform successfully replicates the targeted tissue localisation seen in preclinical models. They show a three-fold reduction in systemic payload exposure compared to market-leading antibody-drug conjugate (ADC) benchmarks and avoid the severe myelosuppression typically associated with free topoisomerase I inhibitors. Further clinical news flow over the next 12 months should establish the utility, positioning, and value of the pre|CISION platform. Our rNPV-based valuation is £525m/$671m, equivalent to 111p/share.
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