Yes, this is possible.
Per instance of software (open AVA program window), you can run up to 4 reactions at the same time (including 2 Reactor-Ready Duos).
Each reaction tab can be configured and controlled separately using a mixture of control modes (Apparatus or Schedule). However, all the data will be recorded together in one file.
Please also note that, AVA will initiate communication with all devices (all tabs) as soon as you start anything running, so they all must be set up correctly and switched on before starting; furthermore, once a reaction is running, it is not possible to add any more devices to any of the reaction tabs.
For true independent control of different reactions, you can open AVA again to create a second instance of AVA.
Using a second instance means you can configure devices for one reaction in one instance whilst another reaction/instance is running, as the data etc. is in a separate file.
Please note, you can only open a maximum of 2 instances of AVA per computer.
(Please see the separate FAQ entry on Reactor-Ready Duo and AVA.)