Avacta has 'no relationship' with failed tech-focussed bank

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Sharecast News | 13 Mar, 2023

Updated : 10:08

17:23 20/12/24

  • 47.50
  • -1.04%-0.50
  • Max: 49.00
  • Min: 45.52
  • Volume: 700,754
  • MM 200 : 0.68

Life science company Avacta reassured the market on Monday, following the collapse of technology and science-focussed Silicon Valley Bank last week.

The AIM-traded form said it had no banking relationship with either SVB or its local operation SVB UK.

As a result, it had no cash on deposit with them.

At 0951 GMT, shares in Avacta Group were down 1.34% at 135.66p.

Reporting by Josh White for Sharecast.com.

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