UK-based Avacta Group (AIM: AVCT) has entered into a license agreement with Canadian firm POINT Biopharma to provide access to Avacta’s pre|CISION technology for the development of tumor-activated radiopharmaceuticals.
The radiopharmaceutical market is expected to grow to $15 billion by 2025 and there is a substantial opportunity to grow much faster if safety and tolerability of these effective treatments can be improved, Avacta noted. POINT Biopharma is a clinical-stage pharmaceutical company focused on developing radioligands as precision medicines for the treatment of cancer.
Avacta Group Plc (LON:AVCT) offers reagents and therapeutics based on Affimer technology for diagnostic and research applications in the United Kingdom. The company’s custom Affimer products are also used in drugs and biomarkers discovery in biotech research and development.