Avacta Group plc (LSE:AVCT) has raised approximately £16 million through an oversubscribed equity placement, providing the company with additional working capital to support its research and development activities through the second half of 2026. The capital will fund the ongoing Phase 1b trial of faridoxorubicin and the launch of the FAP-EXd Phase Ia trial, while allowing Avacta to retain full ownership of its programs built on its proprietary pre|CISION® technology platform.
This funding round also enables the deferment of certain convertible bond repayments, effectively extending the company’s cash runway and supporting further development of its intellectual property portfolio.
Although Avacta faces financial pressures linked to weak earnings, technical indicators offer some near-term optimism. Valuation remains challenging, but the strategic progress highlighted in recent communications demonstrates continued advancement in its oncology pipeline.
About Avacta Group plc
Avacta Group is a clinical-stage life sciences company pioneering pre|CISION®, a proprietary drug delivery platform designed to improve oncology treatments by reducing toxicity and targeting drug release directly within tumors. Its technology uses peptide drug conjugates (PDCs) to enhance drug efficacy and patient tolerability.
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