Avacta signs diagnostic licensing deal with Biokit
Avacta Group, the developer of cancer therapies and diagnostics based on its proprietary Affimer and pre|CISION platforms, has entered into a license agreement with Biokit, a Werfen Company, to incorporate Affimer reagents into a Biokit in-vitro diagnostic (IVD) product.
Biokit is recognised as a Centre of Excellence with consolidated experience worldwide in research, development and manufacturing of assays and biomaterial solutions for IVD use.
The license agreement follows an extensive evaluation by Biokit of certain Affimer reagents to detect a key analyte. Under the terms of the agreement Biokit has the right to develop, manufacture and commercialise through original equipment manufacturer (OEM) partners a diagnostic immunoassay for this analyte.
Commenting on the agreement, Dr Alastair Smith, Chief Executive of Avacta Group, said: “I am delighted to have established this partnership with Biokit, a world-renowned IVD company, which further validates the Affimer reagent platform for diagnostics. Avacta’s diagnostics business model combines development of a wholly owned pipeline of products, including the SARS-CoV-2 rapid antigen test, with licensing of Affimer reagents to diagnostic development partners such as Biokit.
“Biokit will develop an automated clinical assay using the Affimer reagents that Avacta has developed for them and I look forward to the successful conclusion of that development process and product launch. There is also potential for the partnership between our two companies to continue and expand to include other diagnostic targets and future Affimerbased IVDs.”
Avacta will receive royalties on future sales of any products brought to market following completion of product development and regulatory approvals. Financial details of the agreement were not disclosed.