t
Avacta Group plc confirmed on 21 July 2025 that it settled the quarterly principal of £2.55 million and interest repayment of c.£0.414 million in cash for its unsecured convertible bond. This action reduced the remaining principal under the convertible bond by £2.55 million to £22.95 million. The payment follows a £3.25 million equity financing announced on 17 July 2025, which is due to complete on 24 July 2025.
| Date | 21 Jul 2025 |
| Time | 07:00:08 |
| Category | Miscellaneous |
| ID | 8230R |
Avacta Group plc
("Avacta" or the "Group" or the "Company")
Payment of Convertible Bond Installment
LONDON and PHILADELPHIA - 21 July 2025 - Avacta (AIM: AVCT), a life sciences company developing innovative, targeted oncology drugs, confirms that further to the announcement of the £3.25m equity financing on 17 July 2025 (the "Placing"), it has settled the quarterly principal of £2.55 million and interest repayment of c.£0.414 million in respect of the Company's unsecured convertible bond in cash. The Placing is due to complete on 24 July 2025.
After settlement of the quarterly repayment, the principal remaining under the convertible bond will be reduced by £2.55 million to £22.95 million.
-Ends-
For further information from Avacta Group plc, please contact:
|
Avacta Group plc Michael Vinegrad, Group Communications Director
|
|
|
|
|
|
Peel Hunt (Nomad and Joint Broker) James Steel / Chris Golden
|
|
|
Panmure Liberum (Joint Broker) Emma Earl / Will Goode / Mark Rogers
Zeus (Joint Broker) James Hornigold / George Duxberry Dominic King
ICR Healthcare Mary-Jane Elliott / Jessica Hodgson / Stephanie Cuthbert |
|
|
Investor Contact Renee Leck THRUST Strategic Communications
|
|
|
Media Contact Carly Scaduto Carly Scaduto Consulting |
|
About Avacta - www.avacta.com
Avacta Therapeutics is a clinical-stage life sciences company expanding the reach of highly potent cancer therapies with the pre|CISION® platform. pre|CISION® is a proprietary warhead delivery system based on a tumor-specific protease (fibroblast activation protein or FAP) that is designed to concentrate highly potent warheads in the tumor microenvironment while sparing normal tissues. Our innovative pipeline consists of pre|CISION® peptide drug conjugates (PDC) or Affimer® drug conjugates (AffDC) that leverage the tumor-specific release mechanism, providing unique benefits over traditional antibody drug conjugates.
About the pre|CISION® Platform
The pre|CISION® platform comprises an anticancer payload conjugated to a proprietary peptide that is a highly specific substrate for fibroblast activation protein (FAP) which is upregulated in most solid tumors compared with healthy tissues. The pre|CISION® platform harnesses this tumor specific protease to cleave pre|CISION® peptide drug conjugates and pre|CISION® antibody/Affimer® drug conjugates in the tumor microenvironment, thus releasing active payload in the tumor and reducing systemic exposure and toxicity, allowing dosing to be optimized to deliver the best outcomes for patients.