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Fundraisings and IPOs

Date: 2016-08-10

Type of information: Grant

Company: Avacta (UK) Leeds University (UK)

Investors: Medical Research Council (UK)

Amount: £3.8 million (€ 4.4 million)

Funding type: grant

Planned used:

The grant will be used to develop novel, rapid diagnostic tools incorporating Affimer reagents, to differentiate between viral and bacterial infections, and differentiate bacterial strains. Affimer technology is an engineered alternative to antibodies that can capture a target, such as a bacterial or viral protein, with a high degree of specificity. 

This programme will develop next generation biosensors to differentiate between bacterial and viral infections and also to determine which bacterial strain has caused the infection so that the correct antibiotic can be quickly administered. This will allow for more targeted use of antibiotics, reducing the number of wrongly prescribed treatments and increasing efficacy for patients, which will contribute to a reduction in anti-microbial resistance (AMR). The development of the biosensors will take place at Leeds University in the Groups of Professors Christoph Walti (Electronic Engineering) and Mike McPherson (Biochemistry). Avacta will provide support for the development of Affimer reagents that will be incorporated into the biosensors to facilitate the specific capture of bacterial biomarkers.

Others:

* On August 10, 2016, Avacta Group, the developer of Affimer® biotherapeutics and research reagents, announced that a collaborative development programme with Leeds University has been awarded a £3.8 million grant by the Medical Research Council to develop novel, rapid diagnostic tools incorporating Affimer reagents, to differentiate between viral and bacterial infections, and differentiate bacterial strains. This programme will develop next generation biosensors to differentiate between bacterial and viral infections and also to determine which bacterial strain has caused the infection so that the correct antibiotic can be quickly administered. 
As part of the collaborative agreement between Avacta and the University of Leeds, Avacta will have the first rights to commercialise the new Affimer reagents and new diagnostic tests developed under the programme.

Therapeutic area: Infectious diseases - Diagnostic

Is general: Yes