{"id":45674,"date":"2022-06-30T12:01:24","date_gmt":"2022-06-30T10:01:24","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/lg-chem-renews-license-triggering-payment-to-avacta\/"},"modified":"2022-06-30T12:01:24","modified_gmt":"2022-06-30T10:01:24","slug":"lg-chem-renews-license-triggering-payment-to-avacta","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/lg-chem-renews-license-triggering-payment-to-avacta\/","title":{"rendered":"LG Chem Renews License Triggering Payment to Avacta"},"content":{"rendered":"
\n

\nLG Chem will now proceed with Investigational New Drug (IND) enabling studies for Affimer PD-L1 antagonist programme<\/i>\n<\/p>\n

LONDON & WETHERBY, England–(BUSINESS WIRE)–Avacta Group plc (AIM: AVCT), a clinical stage biopharmaceutical company developing innovative cancer therapies and powerful diagnostics based on its proprietary Affimer\u00ae<\/sup> and pre|CISION\u2122 platforms, is pleased to announce that LG Chem Life Sciences (LG Chem), the life sciences division of the South Korean LG Group, has exercised its renewal option as part of the ongoing collaboration with Avacta, triggering a license renewal fee payment to Avacta of $2 million.\n<\/p>\n

<\/a><\/p>\n

\nUnder the terms of the agreement, LG Chem has the exclusive rights to develop and commercialise, on a global basis, Avacta\u2019s Affimer\u00ae<\/sup> PD-L1 inhibitor with Affimer XT\u2122 serum half-life extension for a range of indications. LG Chem has exercised its license renewal option and will progress the PD-L1\/XT candidate by commencing pre-clinical studies which are intended to form the basis of an Investigational New Drug (IND) submission.\n<\/p>\n

\nIn December 2018, Avacta and LG Chem entered into a multi-target development agreement to develop Affimer\u00ae<\/sup> therapeutics in several disease areas. In 2020 the companies agreed to expand this drug development partnership to include Avacta\u2019s Affimer XT\u00ae<\/sup> technology, which can be used to control the time a drug spends in the blood.\n<\/p>\n

\nDr Alastair Smith, Chief Executive Officer of Avacta, commented:<\/b> \u201cI am very pleased with the progress being made by our partners LG Chem with the Affimer PD-L1 checkpoint inhibitor programme, which includes the Affimer XT serum half-life extension technology. The initiation of IND enabling studies represents a significant step towards first-in-human clinical trials of the Affimer platform, which is a key value driver for the technology and for Avacta.\u201d<\/i>\n<\/p>\n

Contacts<\/b> <\/p>\n

\nZyme Communications
\n
Lily Jeffery
\n
E-mail: lily.jeffery@zymecommunications.com<\/a>
Phone: +44 (0)7891 477 378\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

LG Chem will now proceed with Investigational New Drug (IND) enabling studies for Affimer PD-L1 antagonist programme LONDON & WETHERBY, England–(BUSINESS WIRE)–Avacta Group plc (AIM: AVCT), a clinical stage biopharmaceutical company developing innovative cancer therapies and powerful diagnostics based on its proprietary Affimer\u00ae and pre|CISION\u2122 platforms, is pleased to announce that LG Chem Life Sciences … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-45674","6":"format-standard","7":"category-industry"},"yoast_head":"\nLG Chem Renews License Triggering Payment to Avacta - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/lg-chem-renews-license-triggering-payment-to-avacta\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LG Chem Renews License Triggering Payment to Avacta - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"LG Chem will now proceed with Investigational New Drug (IND) enabling studies for Affimer PD-L1 antagonist programme LONDON & WETHERBY, England–(BUSINESS WIRE)–Avacta Group plc (AIM: AVCT), a clinical stage biopharmaceutical company developing innovative cancer therapies and powerful diagnostics based on its proprietary Affimer\u00ae and pre|CISION\u2122 platforms, is pleased to announce that LG Chem Life Sciences ... 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