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Avacta Group Plc
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=== Funding === The development of the Group’s Affimer® and pre|CISIONTM technologies in the Therapeutics Division is resource and cash intensive. The new Diagnostics Division M&A strategy also requires sufficient funding to enable attractive acquisitions to be acquired. The Group successfully raised £61.3 million (gross) during the year to continue the Group’s plans; however, there will be future funding requirements which will need to fund expanded clinical development programmes. As at 31 December 2022, the Group had cash and short-term deposits of £41.78 million, which leaves it in a good position to deliver on its short to medium term objectives. As with all fundraising activities in the biotech sector, there are external market and economic factors, such as the Ukraine conflict and UK recession, which may impact the timing and amount of funding available through capital markets.
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