Avacta Therapeutics Announces Appointments of Industry Veterans to Board of Directors

May 28, 2025 at 07:00 AM EDT

LONDON and PHILADELPHIA, May 28, 2025 (GLOBE NEWSWIRE) -- Avacta Therapeutics (AIM: AVCT), a life sciences company developing next generation peptide drug conjugates (PDC) targeting powerful anti-tumor payloads directly to the tumor, today announces the appointments of David Bryant and Richard Hughes as Non-Executive Directors with immediate effect.

David Bryant is a highly experienced international pharmaceutical executive with over 35 years in the industry. He has a strong track record in commercial leadership roles at GSK and Pfizer and was one of the original management team at Clinigen Group, from its 2012 IPO on AIM to its sale for $1.6bn in 2022. David is currently an Advisor to Healthcare Royalty (HCRx), a US-based healthcare focused private investment business.

Richard Hughes has had a long and successful career in UK capital markets with over 30 years’ corporate finance experience, including IPOs, equity capital raising and M&A for both public and private companies. He was previously a founder shareholder and a director of boohoo.com and a majority shareholder of Crawford Healthcare, a UK-based advanced wound care and dermatology company, which was acquired by Acelity in June 2018. He is a shareholder and director of numerous private companies operating across a range of sectors. Richard founded Zeus Capital, an independent financial services group, in 2003 and is a director of Zeus Group.

Shaun Chilton, Non-Executive Chairman, commented:

“As Avacta completes its transformation into a dedicated pure play therapeutics company, focused on advancing our unique pre|CISION^® platform for the benefit of patients, it needs seasoned and expert guidance. David and Richard have many years’ experience and proven track records in pharmaceutical development and commercialization and capital markets respectively. Their collective expertise will significantly enhance the Board’s capabilities as we focus on the strategic opportunities within our innovative pipeline to build long-term shareholder value.”

David Bryant commented:

“I am looking forward to working closely with the executive management team on Avacta’s exciting technology and leveraging my commercial expertise. With the recent advances from the pre|CISION platform just published and the second program entering the clinic soon, the timing is ideal for me to join the Board.”

Richard Hughes added:

“I am delighted to be appointed as a Director. The business has a proprietary delivery platform in pre|CISION^® that I believe will have a significant impact on the standard of care across a range of therapeutics, whilst limiting the harmful side effects that so many patients experience. I look forward to utilizing my experience in both fundraising and the scaling of businesses to assist the executive management team in delivering value for all shareholders.”

For further information from Avacta Group plc, please contact:

Avacta Group plc Michael Vinegrad, Group Communications Director		www.avacta.com

Peel Hunt (Nomad and Joint Broker) James Steel / Chris Golden		www.peelhunt.com
Panmure Liberum (Joint Broker) Emma Earl / Will Goode / Mark Rogers		www.panmureliberum.com
ICR Healthcare Mary-Jane Elliott / Jessica Hodgson / Stephanie Cuthbert		avacta@icrhealthcare.com
Investor Contact Renee Leck THRUST Strategic Communications		renee@thrustsc.com
Media Contact Carly Scaduto Carly Scaduto Consulting		Carly@carlyscadutoconsulting.com

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.

Appendix 1: Further disclosures regarding David Bryant

Avacta also discloses the following information in accordance with Schedule 2(g) of the AIM Rules for Companies.

Full name: David John Bryant

Age: 58 years

Current directorships/partnerships:

60 Niton Street (Freehold) Limited
60 Niton Street RTM Ltd
Mulberry Capital Management Ltd

Previous directorships/partnerships held in the past 5 years:

Clinigen Limited
Nupharm Group Limited
Pern Consumer Products Limited
Protomed Limited
Quantum Pharma 2014 Limited
Quantum Pharmaceutical Limited
Quantum Pharma Group Limited
Quantum Pharma Holdings Limited
Quantum Specials Trustee Limited
Triley Bidco Limited
Triley Midco Limited
Triley Midco 2 Limited
U L Medicines Limited

Protomed Limited entered into a creditors’ voluntary winding up process in February 2019. There were no secured or preferential creditors and as at April 2025 claims of c. £4.1m from unsecured creditors had been received which were in the process of being agreed and distributed.

David Bryant does not hold any ordinary shares in Avacta.

There are no other disclosures required in connection with the appointment David John Bryant under Schedule Two(g) of the Aim Rules for Companies.

Appendix 2: Further disclosures regarding Richard Hughes

Avacta also discloses the following information in accordance with Schedule 2(g) of the AIM Rules for Companies.

Full name: Richard Ian Hughes

Age: 57 years

Current directorships/partnerships:

Andratx Property Limited
Bidco 2 Limited
Bidco 3 Limited
Bidco 4 Limited
Dakarts Limited
Elpis Holdings Limited
Eternal Time Limited
Irwell Investments Limited
Medusa 19 Limited
Medusa 19 Group Limited
Medusa 19 Healthcare Limited
Medusa Asset Management Limited
Medusa Management Services Limited
Medusa Partners LLP
Oakdate Limited
Palatine Private Equity LLP
RHDL Limited
Saturn Asset Management Limited
Saturn Group Holdings Limited
Saturn Pass Limited
Saturn Passport Limited
Stratford Place Property Investments Ltd
Zeus Group Limited

Previous directorships/partnerships held in the past 5 years:

Newco (Huntingdon Street Nottingham) Limited

The following disclosures are made in accordance with paragraphs (g) (v) and (vi) of Schedule Two of the AIM Rules:

Richard Hughes was:

appointed a director of Catalyst Securities Limited on 3 February 2006, a company incorporated in England. The company was placed into administration on 21 April 2011 and was subsequently dissolved on 14 November 2018, with approximately £9.3 million owing to creditors;

appointed a director of Catalyst Securities No.2 Fund Limited on 3 February 2006, a company incorporated in England. The company was placed into administration on 13 September 2010 and was subsequently dissolved on 15 June 2013, with approximately £1.5 million owing to creditors;

appointed a director of Catalyst Investments Limited on 18 January 2006, a company incorporated in England. The company entered a creditors’ voluntary liquidation on 17 June 2011 and was subsequently dissolved on 23 April 2014, with approximately £9.5 million owing to creditors;

appointed a director of Procurasell Holdings Limited on 30 October 2007, a company incorporated in England. The company entered a compulsory liquidation on 17 June 2009 and was subsequently dissolved on 24 August 2010;

appointed a director of The Debt Advisor Group plc on 9 April 2003, a company incorporated in England. The company was placed into administration on 29 June 2007 and was subsequently dissolved on 10 April 2011, with approximately £2.3 million owing to unsecured creditors;

appointed an LLP designated member of My SPA Liverpool LLP, a limited liability partnership incorporated in England, on 5 November 2008. The partnership entered a creditors’ voluntary liquidation on 20 October 2009 and was subsequently dissolved on 25 May 2011, with an estimated £64,633 owing to unsecured creditors; and

appointed an LLP designated member of My SPA Chesire LLP, a limited liability partnership incorporated in England, on 1 December 2008. The partnership entered a creditors’ voluntary liquidation on 22 April 2010 and was subsequently dissolved on 16 July 2012, with approximately £31,000 owing to unsecured creditors.

Richard Hughes does not hold any ordinary shares in Avacta.

There are no other disclosures required in connection with the appointment Richard Ian Hughes under Schedule Two(g) of the Aim Rules for Companies.