• Success of MSC Development Target triggers Milestone Payment
    Alastair Smith

    News

    Success of MSC Development Target triggers Milestone Payment

    Life sciences company Avacta has announced a second milestone equity payment increasing its shareholding in AffyXell Therapeutics, a joint venture to develop next-generation cell therapies between Avacta and Daewoong Pharmaceutical in South Korea.

    Following successful development and characterisation of Affimer® proteins against the second target of interest for AffyXell, application to file a patent for the associated intellectual property triggered the second milestone. The exact increase in the shareholding will be determined, as with the first milestone payment, following a formal valuation of the joint company.

    Established in January 2020, AffyXell develops novel mesenchymal stem cell ("MSC") therapies. 

    Dr Alastair Smith, Chief Executive Officer of Avacta Group, said: “We are delighted that such rapid progress has been made with the second target in our joint venture in South Korea. There is great potential for AffyXell’s novel, engineered mesenchymal stem cell platform incorporating Avacta’s Affimer® technology to deliver significant improvements to the standard of care for patients with serious diseases.

    “We continue to work closely with our colleagues at AffyXell and Daewoong to advance this cutting edge therapeutic platform.”

    More information online


    Digital Edition

    ILM 50.2 March 2025

    March 2025

    Chromatography Articles - Effects of small deviations in flow rate on GPC/SEC results Mass Spectrometry & Spectroscopy Articles - Waiting for the present to catch up to the future: A bette...

    View all digital editions

    Events

    Bio-Europe Spring

    Mar 17 2025 Milan, Italy

    NGVS 2025

    Mar 18 2025 Beijing, China

    Laborama 2025

    Mar 20 2025 Brussels, Belgium

    Asia Labex

    Mar 20 2025 Chandigarh, India

    ACS National Meeting & Expo, Spring 2025

    Mar 23 2025 San Diego, CA, USA

    View all events

    Redirecting you now.
    Labmate Awards Nominations - Open
    The Labmate Awards for Excellence 2025 seek to recognise innovation, quality and achievement wherever it occurs within the laboratory sector. Launching this year the Labmate Awards for Excellence 2025 will have eleven voting categories chosen to reflect the broad range of noteworthy contributions that have been made across our industry in the past 12 months. Nominate your company Now.