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Avacta And Daewoong Pharmaceutical Expand Partnership - Quick Facts

(RTTNews) - Avacta Group plc (AVCT.L), the developer of Affimer biotherapeutics and reagents, announced Wednesday an expansion of its collaboration and license agreement with Daewoong Pharmaceutical Co. Ltd. and AffyXell Therapeutics, the joint venture established in South Korea by the two companies, to develop stem cell treatments.

The treatments incorporate Avacta's neutralising Affimer therapy for the treatment of seriously ill patients with COVID-19 and to also prepare to rapidly develop similar therapies for future global pandemics.

Stem cell therapies offer a very promising approach to repair the damage to lung tissues in these pulmonary diseases by controlling the immune balance.

AffyXell Therapeutics, the next-generation cell and gene therapy joint venture between Avacta and Daewoong Pharmaceutical, is developing a novel class of mesenchymal stem cell (MSC) treatments that are engineered to also produce Affimer therapies in the patient at the site of action.

This extends the scope of the partnership to include Affimer molecules that target viruses, such as coronaviruses, in order to develop therapies that repair the lung damage caused by COVID-19 whilst also producing neutralising Affimer molecules to prevent the progression of the disease.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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