Avacta Group has raised funds via a placing and subscription to both institutional and retail investors

Avacta Group Plc has raised US$60.3 million to continue developing next generation cancer therapies.

Avacta’s mission is to shape the future of medicine by developing safe and efficacious drugs and powerful research and diagnostic tools. Avacta is developing novel cancer immunotherapies combining its two proprietary platforms – Affimer® biotherapeutics and pre|CISIONTM tumor-targeted chemotherapy. With this approach, the company aims to address the lack of a durable response to current immunotherapies experienced by most patients.

Oaklins Cavendish’s sister firm finnCap, based in the UK, acted as financial advisor and broker, assisting Avacta’s management team and shareholders all the way from the start to the successful completion of the fundraising. During this process, the team initiated and advised on many aspects, including, among others, securing pre-commitments from both existing and new institutional investors, deal structuring, document preparation and the fundraise pricing and sizing.