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Scancell lauds another six months of progress

The funds raised in the last year "will allow us to focus on initiating the planned Phase 2 clinical trial for our lead ImmunoBody, SCIB1, and to advance our Moditope products, Modi-1 and Modi-2, towards the clinic".
Scientist using microscope
"With our new hires and recent funding, we believe we are in a strong position to progress our pipeline of immunotherapy products through the next stage of development"

Scancell Holdings PLC (LON:SCLP) said in its interim results that it has the cash to advance its pipeline of immunotherapy products.

The group ended the six month period to the end of October with a positive cash balance of £7.6mln, down from £10.3mln a year earlier.

READ: Scancell hires two industry veterans as it gears up for the next development phase

The pre-revenue company saw its loss before tax widen to £3.67mln from £2.39mln the year before.

Scancell's focus for the immediate future is to initiate the planned Phase 2 clinical study for its lead ImmunoBody, SCIB1, and to advance its lead Moditope vaccine, Modi-1, towards the clinic.

READ: Scancell licenses TriGrid electroporation device from Ichor Medical Systems

A positive outcome from both or either of these studies should represent significant value to shareholders, said John Chiplin, the company’s chairman.

READ: Scancell says it is working closely with US regulators ahead of phase II study of cancer immunotherapy 

"We are pleased to report another six months of progress at Scancell,” said Cliff Holloway, the chief executive officer of Scancell.

“We are working closely with Ichor and the FDA to provide the additional information requested for the initiation of our Phase 2 checkpoint inhibitor combination study of SCIB1 in patients with advanced melanoma,” he added.


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