Avacta Group (LSE:AVCT)
Avacta is an early-stage biotech firm specialising in the fields of diagnostics and therapeutics. Its diagnostics division created a proprietary platform called Affimer. It consists of a portfolio of reagent proteins that can be used to detect specific infections within a given sample. Traditionally this process is achieved using antibodies. However, manufacturing antibodies is a complex, time-consuming process that Affimer reagents don’t have to go through. In 2020, Avacta leveraged its Affimer platform to create Covid-19 lateral flow tests. This was the catalyst behind the AVCT share price spike that year. On the therapeutics side of the business, the company is currently testing its flagship AVA6000 chemotherapy drug in clinical trials. This treatment is being developed with the group’s second chemical platform called pre|CISION. Unlike existing chemotherapy treatments, AVA6000 is highly targeted, resulting in less healthy cells being caught in the crossfire, and reducing the severity of side effects.