By Jaime Llinares Taboada


Avacta Group PLC said Thursday that LG Chem Ltd. has exercised an option to renew its partnership with Avacta.

The biopharmaceutical company said that the renewal of the license to develop and commercialize Avacta's Affimer platform triggers a $2 million fee payment to Avacta.

As part of the deal, LG will progress Avacta's PD-L1/XT candidate by commencing preclinical studies.


Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT


(END) Dow Jones Newswires

06-30-22 0445ET