16 January 2023

Avacta Group plc

("Avacta" or "the Group" or "the Company")

Block Listing Application to AIM

Avacta Group plc (AIM: AVCT), a life sciences company developing innovative, targeted oncology drugs and powerful diagnostics, announces application has been made to AIM for a block listing of 3,000,000 ordinary shares of 10 pence each in the Company ("Ordinary Shares"). This will be used to facilitate the admission of shares to trading following the exercise of options granted under the following two share schemes:

·      The EMI Scheme - 800,000 Ordinary Shares

·      The LTIP/ESOS Scheme - 2,200,000 Ordinary Shares

The Ordinary Shares will be issued from time to time pursuant to the Company's existing plans including outstanding options already issued but not yet exercised to the employees of the Company. New Ordinary Shares issued following option exercises and admitted to trading under the block admission will rank pari passu in all respects with the existing Ordinary Shares.

The block listing is expected to become effective on 20 January 2023. The Company will make six-monthly announcements of the utilisation of the block admission, in line with its obligations under AIM Rule 29.

At the time of this announcement, Avacta has 266,478,465 Ordinary Shares in issue. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

-Ends-

For further information from Avacta Group plc, please contact:

About Avacta Group plc - https://www.avacta.com

Avacta Group plc is a life sciences company working to improve people's health and well-being through innovative oncology drugs and powerful diagnostics.

Avacta's Therapeutics Division, a clinical stage oncology drug innovator, is building a wholly owned pipeline of novel Affimer immunotherapies and pre||CISION tumour targeted chemotherapies. This approach is designed to address the lack of a durable response to current cancer immunotherapies experienced by most patients and reduce the severe systemic toxicities caused by chemotherapies. There are five programmes in the pipeline as well as several global research collaborations and licensing partnerships. Avacta's lead programme, AVA6000, is a preCISION tumour-targeted form of the established chemotherapy doxorubicin. AVA6000 is in Phase I clinical trials in patients with locally advanced or metastatic selected solid tumours.

The Affimer^® platform is an alternative to antibodies that has been designed to address many of the drawbacks of antibodies which, despite their shortcomings, currently dominate the immuno-diagnostics and immuno-therapeutics markets.

The pre|CISION™ tumour targeting platform can be used to modify a chemotherapy in order to selectively release the active drug in tumour tissue thereby reducing the systemic exposure that causes damage to healthy tissues. pre|CISION™ modified chemotherapies are designed to reduce the side effects and improve the overall safety and therapeutic potential of these powerful anti-cancer treatments.

Avacta's Diagnostics Division develops and supplies a broad range of in-vitro diagnostic (IVD) solutions for healthcare professionals and consumers The Division is growing rapidly through an M&A strategy to deliver a global scale IVD business providing market leading solutions for healthcare professionals and consumers to inform treatment and monitor health and well-being. In October 2022, Avacta acquired Launch Diagnostics which serves the hospital pathology laboratory market in the UK and Europe. Avacta Diagnostic's research and development centre in Wetherby, UK uses its proprietary Affimer® platform to differentiate immunodiagnostic products to provide marketing leading performance.

To register for news alerts by email go to www.avacta.com/investor-news-email-alerts