Avacta Group could earn anything from $1/2bn to $1bn from an extended partnership with LG Chem Life Science, the Massachusetts-based subsidiary of the South Korean LG Group.
The windfall stems from additional drug development programmes utilising Avacta’s Affimer® XT technology.
The foundations were laid in December 2018 when the companies agreed to develop Affimer® therapeutics in several disease areas potentially worth over $300m to Avacta.
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.