Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF, FRA:SCP), the developer of immunotherapies designed to treat cancer, has confirmed it is in advanced discussions over a reverse merger with US-listed Neuphoria Therapeutics.
Responding to press speculation, the AIM-quoted company confirmed it is negotiating to acquire Neuphoria through an all-share transaction.
A reverse merger, in which a private or smaller company gains a stock market listing by combining with an already-listed business, could give Scancell access to Nasdaq.
The company believes such a listing would raise its profile among US specialist investors.
Scancell is also in separate talks over possible equity and debt financing.
That funding would support a planned global phase III registrational study, the final stage of testing before regulatory approval, for its lead drug candidate iSCIB1+.
The company cautioned that both the acquisition and the financing remained subject to final terms and definitive documentation.
It added that there could be no certainty that an agreement with Neuphoria would be reached, nor over the size and terms of any associated financing.
