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Avacta Group plc is a UK-based clinical-stage biopharmaceutical company focused on precision oncology therapies. Its core development platform, pre|CISION, uses a peptide linker designed to be cleaved by fibroblast activation protein, a protease associated with many solid tumours, with the aim of releasing cytotoxic payloads in the tumour microenvironment while reducing systemic exposure. The clinical pipeline includes faridoxorubicin (AVA6000), a tumour-activated form of doxorubicin, and AVA6103, a pre|CISION peptide drug conjugate incorporating exatecan. The company also owns the Affimer platform, comprising engineered binding proteins that can be used in therapeutic drug conjugates and diagnostic or research applications. Avacta is headquartered at Imperial College’s White City campus in London and has been transitioning to a pure-play oncology therapeutics business through the divestment of its diagnostics operations.

Johnson & Johnson is the world's largest and most diverse healthcare firm. It has two divisions: innovative medicine and medtech. These now represent all of the company's sales following the divestment of the consumer business, Kenvue, in 2023. After restructurings in 2023-24, the drug division focuses on three main therapeutic areas: immunology, oncology, and neurology. Geographically, just over half of total revenue is generated in the United States.