LONDON and PHILADELPHIA, Sept. 14, 2026 (GLOBE NEWSWIRE) -- Avacta Therapeutics (AIM: AVCT), a clinical stage biopharmaceutical company developing pre|CISION^®, a tumor-activated oncology delivery platform, today announced the appointment of the seasoned biotech executive Mr. Mats Blom as a member of its Board of Directors and Chair of the Audit Committee.  

As part of this Board evolution, Mr. Paul Fry has indicated his intention to step down from the Board effective 30 September 2026, allowing for an orderly transfer of his responsibilities to Mr. Blom.

Christina Coughlin, CEO of Avacta, commented:

"I am delighted to welcome Mats Blom to the Avacta Board. His deep financial expertise and extensive experience in the biotechnology and life sciences sectors across the US and Europe will be instrumental as we advance our pre|CISION^® platform and deliver on our clinical and strategic milestones.

"His leadership and experience further enhance our governance, supporting our mission to bring innovative cancer therapies to patients and create long-term value for shareholders.

"On behalf of the Board, I would also like to thank Paul Fry for his commitment to the Company over the last 7 years and wish him well for the future."

Mats Blom, member of the Board of Directors and Chair of the Audit Committee, added:

"I am honored to join Avacta's Board and take on the role of Audit Committee Chair at such a transformative time for the company. The pre|CISION^® platform holds significant promise for patients with cancer, and I look forward to contributing my financial and governance experience to support the executive team in executing on its strategic vision and ensuring the highest standards of oversight as we continue to progress the pipeline and engage with potential partners."

Mr. Blom is an experienced biotechnology finance executive and Board member with a strong track record as Chief Financial Officer in several life sciences companies, including at Zealand Pharma A/S from 2010-2019, where he oversaw both its listing on Nasdaq and previous initial public offering on Nasdaq OMX Copenhagen. He was also CFO of Active Biotech and Anoto Group, both listed on European exchanges, and private companies NorthSea Therapeutics USA Inc, Modus Therapeutics and Swedish Orphan International.

He is currently Chairman of the Board of Egetis Therapeutics AB and Board member at Hansa Biopharma AB, both listed on the Nasdaq Stockholm exchange, and Board member at privately held Pephexia Therapeutics ApS, and was previously a Board member at Nasdaq-listed Altamira Therapeutics. Earlier in his career, Mr. Blom was a management consultant at Gemini Consulting and Ernst & Young. He holds a BA in Business Administration and Economics from Lund University and an MBA from the IESE University of Navarra, Barcelona.

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For further information from Avacta, please contact:

About Avacta - https://avacta.com/

Avacta Therapeutics is a clinical-stage life sciences company expanding the reach of highly potent cancer therapies through its proprietary pre|CISION^® platform. pre|CISION^® is a payload delivery system based on a tumor-specific protease (Fibroblast Activation Protein or FAP) that is designed to concentrate highly potent payloads in the tumor microenvironment while sparing normal tissues. Avacta's innovative pre|CISION^® peptide drug conjugates (PDC) are a novel entry to the XDC drug class, leveraging the success of antibody drug conjugates with alternative methods of delivery beyond antibodies. 

Our pre|CISION^® PDCs leverage this tumor-specific release mechanism to provide unique benefits over traditional antibody drug conjugates, releasing active payload in the tumor and reducing systemic exposure and toxicity which enables dosing to be optimized to deliver the best outcomes for patients. The lead clinical program is faridoxorubicin (AVA6000), a Gen One FAP-enabled pre|CISION^® version of doxorubicin that delivers the payload directly in the tumor with limited peripheral blood exposure and has demonstrated preliminary activity in tumor types sensitive to doxorubicin including salivary gland cancer and soft tissue sarcoma. 

Further Information Pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies

Mr Blom, aged 61, currently holds or has held the following directorships or partnerships in the past five years:

Mr Blom currently holds no ordinary shares in the Company. There are no further disclosures required in accordance with AIM Rule 17 or Schedule 2(g) of the AIM Rules for Companies in respect of the appointment of Mr Blom.

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