Wednesday 11th of January 2012
Avacta plc - Completion of Acquisition of Aptuscan Limited
By Aim Listing
Avacta plc, the leading healthcare technology, reagents and consumables company who provide proprietary analytical and diagnostics solutions to the life sciences/healthcare sector, this week announced the completion of the Placing and the Acquisition of Aptuscan Limited. The Consideration Shares, the JSOP Shares and the Theragenetics Shares to be traded on AIM.
Aptuscan Ltd was acquired by Avacta Group for its unique affinity reagents platform.The platform is based on a small human protein that can be engineered to bind with high specificity and affinity to a wide range of protein targets creating a potentially large menu of affinity reagents called “Affimers”.
Avacta is developing Affimers for applications in diagnostics, drug and biomarker discovery and biotech research and development. These will be commercialized through the Group’s two operating businesses Avacta Analytical and Avacta Animal Health.
CEO Alastair Smith commented: "I am very pleased that we have been able to take this rare opportunity to acquire a reagents platform which fits perfectly with Avacta's products, growth strategy and markets. I am also delighted that we have had such strong support from key institutional shareholders who have fully funded a substantial acceleration in our product, reagent and test development capability. In these very uncertain markets Avacta is in the excellent position of being fully funded and will be able to focus entirely on developing and commercialising its considerable assets for the foreseeable future."
Full details of the take up of the Placing Shares, Consideration Shares, JSOP Shares and Theragenetics Shares can be found in the Circular and on the Company's website: www.avacta.com.
Further details about AVACTA click here