Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF) said it is well-funded and expects to deliver progress on its candidate pipeline over the next year and a half.
The pharma group will use the capital raised via the issue of shares and convertible loan notes earlier in the financial year to pursue several clinical programmes across its vaccine and antibody portfolios.
READ: Scancell takes new lab and office space in Oxford Science Park to speed clinical trials
The vaccine portfolio features Modi-1, with first patients for a Phase 1/2 study on solid tumours to start shortly with safety and tolerability data expected in 2022.
Modi-2, the second therapeutic vaccine candidate from the Moditope platform, is anticipated to start GMP manufacturing during 2022.
A phase 1 study for the Coronavirus (COVID-19) vaccine candidate started this month with safety data anticipated to be available in the first half of 2022. Scancell plans to partner this programme once it has generated proof of concept data.
The ImmunoBody vaccine, SCIB1, is currently being evaluated in Phase 2 clinical trials in the UK in combination with the checkpoint inhibitor Keytruda for the treatment of metastatic melanoma. Efficacy data will be available next year.
In the antibody portfolio, Scancell will continue to progress its pipeline of differentiated AvidiMab enhanced antibody products towards the clinic. They could be used as stand-alone therapeutics, be used to deliver cytotoxic drugs (antibody-drug conjugates), to redirect T cells or to be used in CAR-T cellular therapies.
The AIM-listed group will also use its AvidiMab platform to increase the potency of the antibodies.
In the year ended 30 April, the firm, which has yet to make revenues, made a total loss of £15mln. The cash balance at year-end was £41mln.