Avacta, LG Chem Life Sciences Expand Drug Development Agreement

Avacta Group has announced, in an Aug. 18, 2020 press release, that it has expanded its drug development partnership with LG Chem Life Sciences to include new programs incorporating Avacta’s Affimer XT serum half-life extension system.

The companies entered an agreement in December 2018 for the development of Affimer therapeutics in several disease areas. The expansion to this agreement will include the Affimer XT technology, which can be used to control the time a drug spends in the circulation system.

“The expansion of our collaboration to develop new therapies for patients with cancer and other diseases is another strong validation of the Affimer technology and its potential as a therapeutic platform to deliver a pipeline of new drugs,” said Dr. Alastair Smith, CEO of Avacta Group, in the press release. “We look forward to developing these new therapies with our partners, LG Chem, and I look forward to updating the market on this and our other drug development and diagnostics programs in due course.”

Under the terms of the expanded agreement, LG Chem has worldwide exclusive rights to develop and commercialize Avacta’s Affimer PD-L1 inhibitor with the Affimer XT serum half-life extension. Additionally, LG Chem has the rights to develop and commercialize other Affimer and non-Affimer biotherapeutics combined with the Affimer XT half-life extension for a range of indications.

Source: Avacta