LONDON, UK: Avacta Group plc (AIM: AVCT), a clinical stage oncology drug company developing innovative cancer therapies and powerful diagnostics based on its proprietary pre|CISION and Affimer platforms, announces that the Company has relocated its Therapeutics division to a new headquarters at Scale Space, in Imperial College’s White City Campus, London.
The new headquarters, which will see Avacta be part of a life science cluster at the west London site, brings together its research and development teams to support the continued growth of the Company’s pre-clinical and clinical development pipelines of innovative cancer therapies. The move follows the transition of AVA6000, the Company’s lead pre|CISIONTM targeted chemotherapy programme and a tumour activated form of doxorubicin, into the clinic in August 2021.
Opened in July 2020 as a joint venture between Blenheim Chalcot, the UK’s leading digital venture builder, and Imperial College London, Scale Space is part of the broader White City Innovation District. White City is currently home to over 140 companies across a broad range of industries including pharmaceutical and biotech.
Dr Fiona McLaughlin, Chief Scientific Officer of Avacta, commented: “This move is the result of a clear vision to bring together the research and development teams into one hub to facilitate the translation of our in-house research from bench to bedside. We are now at the heart of the innovative White City community in London, readily accessible to our collaborators around the world and poised to take Avacta to the next level in its evolution as a clinical stage biopharmaceutical company.”
Neil Bell, Chief Development Officer of Avacta, commented: “The relocation of Avacta’s Therapeutics division to Scale Space in the heart of Imperial College’s White City Campus is a transformative milestone for our business, as we take the next steps towards developing our innovative oncology pipeline and improving our ability to bring these innovative therapies through to patients. This new location gives Avacta access to world class facilities, increased opportunities for collaboration and access to a significant talent pool to take the business forward.”
Michael Holmes, CEO of Scale Space commented: “We are delighted to partner with Avacta in the next phase of their growth – the fact that such an innovative organisation has chosen Scale Space, White City, ahead of any other location they could have picked, is another clear indicator that the White City Innovation District is one of the best locations for businesses looking to immerse themselves in a thriving ecosystem and attract top tier talent to innovate and scale.”