News
Success of MSC Development Target triggers Milestone Payment
Jun 19 2023
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
Mar 17 2025 Milan, Italy
Mar 18 2025 Beijing, China
Mar 20 2025 Brussels, Belgium
Mar 20 2025 Chandigarh, India
ACS National Meeting & Expo, Spring 2025
Mar 23 2025 San Diego, CA, USA