Avacta Group plc (LON:AVCT) saw its shares initially rise at the open on Monday, before retreating to negative territory after it announced the completion of the sale of its subsidiary, Coris Bioconcept SRL, to 3B BlackBio Dx Ltd.
The completion marks a pivotal step in Avacta’s strategic move to become a pure-play therapeutics company focused on oncology.
Avacta’s shares initially rose to a high of 64.8p following the news. However, they are now down around 1.6% at 60.5p per share. Year-to-date, Avacta’s stock has appreciated by 21.3%.
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The divestment of Coris Bioconcept follows the earlier sale of Launch Diagnostics in March 2025, solidifying Avacta’s commitment to concentrating on the development of targeted oncology drugs.
The transaction, finalized on August 29, 2025, involved an upfront cash consideration of £2.15 million, with the potential for an additional earn-out of up to £0.615 million based on Coris Bioconcept’s future performance under new ownership.
For the financial year ending December 31, 2024, Coris Bioconcept reported unaudited revenues of €5.22 million, primarily from non-COVID products. However, the business recorded a negative EBITDA of €0.215 million for the same period. Avacta had previously recognized a non-cash impairment charge of £6.8 million related to this disposal.
With the completion of the sale, Avacta anticipates its cash runway will extend into the first quarter of 2026. The proceeds from the sale are specifically earmarked to advance Avacta’s pre|CISION® platform.
The technology is at the heart of Avacta’s strategy to develop precision oncology treatments, aiming to improve patient outcomes through targeted drug delivery.
The strategic rationale behind the sale is clear: By divesting its diagnostics businesses, Avacta can streamline its operations and accelerate the progress of its therapeutic programs.
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