Avacta has 'no relationship' with failed tech-focussed bank
Avacta Group
47.50p
16:55 20/12/24
-1.04%
-0.50p
Life science company Avacta reassured the market on Monday, following the collapse of technology and science-focussed Silicon Valley Bank last week.
FTSE AIM All-Share
710.60
17:04 20/12/24
n/a
n/a
Pharmaceuticals & Biotechnology
19,761.12
17:14 20/12/24
0.06%
12.71
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.