finnCap have led on Avacta’s £48m equity fundraise – by way of placing, subscription and offers via PrimaryBid. We had to increase the quantum several times, such was the level of interest in Avacta and its technology platform. We were still very heavily over subscribed and pleased to help provide Avacta with the balance sheet they need to drive the business forward.

finnCap have led on Avacta’s £48m equity fundraise – by way of placing, subscription and offers via PrimaryBid. We had to increase the quantum several times, such was the level of interest in Avacta and its technology platform. We were still very heavily over subscribed and pleased to help provide Avacta with the balance sheet they need to drive the business forward.

The funding will be used to rapidly expand the in-house Affimer® and pre|CISION™ cancer therapy pipelines and scale-up the diagnostics business to expand the Affimer® diagnostic products pipeline. In the short term the funds will provide the Company with the working capital to support the development and manufacture of the covid19 antigen tests in development which, given the potential demand, could be transformational for Avacta.

Geoff Nash, Corporate Finance Director, finnCap Group Life Sciences, comments: “We have always been great believers in the value of Avacta and its technology. It has been quite a journey over recent years and that makes it all the more pleasing to be able to assist in providing the capital that will allow Avacta to unlock the huge potential in its therapeutic and diagnostic pipelines.”