Scancell Holdings Plc (LON:SCLP), developer of drugs that use the body’s immune system to tackle cancer, said it continues to look at “funding options” to take more of its discoveries into the clinic.
Having recently raised £6.2mln it has ample resources to finance the current programme as it prepares to trial its flagship SCIB1 drug in combination with a checkpoint inhibitor.
A US clinical study is set to get underway in the third quarter of next year.
Results from SCIB1 phase I/II clinical trial of the drug in patients with late stage melanoma where the skin cancer has been cut out continue to impress.
A total of 19 of the 20 of the patients are alive, with only two seeing a reoccurrence of the disease. Those on the lower dose have been monitored for a median four years now, while the lower dose group have received treatment for 18 months.
Next into the clinic is Modi-1 from Moditope platform which will be used to treat triple negative breast cancer, ovarian cancer and osteosarcoma. The study will commence in 2018.
Success with these trials “could transform the value of the business”, said chairman Dr John Chiplin.
“The board believes that further clinical studies could add significant value to the company and is continuing to explore a number of funding options to ensure that the company has the resources to progress these programmes further,” he added.
The update came as part of the company’s interim results statement. Scancell booked a slightly increased loss of £2.58mln for the 12 months ended April. The cash balance was £6.53mln as of that date.