Companies

Avacta Group

Overview

Avacta Group provides technologies and services for the pharmaceuticals and diagnostics markets. Avacta’s main product is the Optim biophysical analysis instrument. Biopharmaceuticals account for more than one-third of drugs in development and the market is expected to be worth $100bn in 2010. These biopharmaceuticals are based on proteins and DNA. The average cost of developing a biopharmaceutical is $1.2bn according to the Tufts Centre for the Study of Drug Development. More than four-fifths of these drugs in development fail. The faster these failures can be identified the less money will be spent on them and the more time spent on the better target drugs. Avacta reversed into a shell that used to produce chilled ready meals. Avacta started trading in its current form on 8 August 2006. In March 2009, it completed the acquisition of Aim-quoted Curidium Medica. Avacta offered 14.5 of its own shares for each Curidium share. On 18 january 2009, Avacta shares were trading at 2.625p a share so this deal was valued at £7.2m.

Sector: Health

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