Avacta Shares Edge Higher After Presenting AVA3996 Pre-Clinical Data at AACR Meeting

Avacta (LON: AVCT) shares rose more than 1% in early trading after it said it had presented pre-clinical data for AVA3996 at the 2023 American Association for Cancer Research Meeting in Florida, USA.

The company explained in a release Monday that proteasome inhibitors are effective anti-cancer drugs that could benefit from the application of its preICISIONTM technology to expand their use.

The global proteasome inhibitors market is said to be expected to reach nearly $2.3 billion by 2026.

At the yearly event, described as one of the largest international cancer research meetings, Avacta revealed that AVA3996, its novel pre|CISIONTM proteasome inhibitor, is specific to the enzyme FAP, which is upregulated in most solid tumours and “underpins the potential to target the proteasome inhibitor to tumour tissue.”

In addition, they stated that in a head-to-head study, AVA2727D kills cancer cells (ex-vivo) as effectively as bortezomib (Takeda's Velcade) and that in three different in-vivo (mouse) cancer models, AVA3996 was as effective as bortezomib in restricting tumour growth.

“We are delighted with the progress being made in the pre-clinical development of AVA3996, the second drug candidate based on our preICISIONTM platform,” said Dr Alastair Smith, Chief Executive Officer of Avacta Group.

“The potential to apply a proteasome inhibitor to the treatment of solid tumours is very exciting, and, as can be seen from our poster presented at the prestigious AACR meeting, the pre-clinical data we are generating is very encouraging in that regard.”

The Avacta CEO added that the company is focused on pushing AVA3996 through to IND filing in order to follow AVA6000 into the clinic next year.