Avacta Completes Transition to Pure-Play Therapeutics with £2.2M Coris Sale
- Avacta Group has agreed to sell Coris Bioconcept SRL to 3B BlackBio Dx Ltd for £2.15 million upfront plus potential earn-outs of up to £615,000, completing its transformation into a pure-play therapeutics company.
- The sale represents the final step in Avacta's strategic pivot away from diagnostics, following the earlier divestment of Launch Diagnostics in March 2025.
- Proceeds will fund advancement of Avacta's preCISION platform for peptide drug conjugates targeting precision oncology treatments.
- The transaction extends Avacta's cash runway into Q1 2026 and allows full focus on its tumor-targeting therapeutic pipeline powered by fibroblast activation protein technology.