Avacta Group plc announced that its initial study with Glythera Limited has concluded successfully. Following this study the two companies have agreed the terms of a licensing deal which will allow them to develop drug conjugates using the combined technologies. The detailed terms of the license have not been disclosed but Avacta would receive development milestone payments and royalties on sales of an approved drug developed by Glythera. The antibody drug conjugate market is estimated to be worth around $1 billion from two approved compounds and is expected to be worth $14.6 billion annually by 2030. Drug conjugates combine a chemotherapy (toxin) with a protein such as an antibody or Affimer to target that toxin to the tumor. Avacta and Glythera have carried out a proof-of-concept study designed to demonstrate that Avacta's Affimer technology could be combined with Glythera's Permalink conjugation chemistry to provide a technically superior drug conjugate platform with shorter development times, simpler, more consistent production and greater chemical stability. An Affimer, compared with a much larger antibody, potentially also allows greater control over the time the drug spends in the blood stream and deeper tumor penetration producing a more effective medicine with fewer toxic side effects.