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Scancell Raises £1.3 Million ($2.34M; €2M) in New Funding Round

27th April 2004

Nottingham, UK – 27th April 2004 – Scancell Ltd, the Nottingham, UK based cancer therapeutics company, announced at its annual general meeting (AGM) today the successful completion of a further round of private equity funding totalling ~£1.3 million. Bioscience VCT, and Oxford Technology 3 VCT, an existing investor, acted as co-lead investors for the round. Other new investors in this round included Oxford Capital Partners and Cherwell Capital. Several of Scancell’s existing investors also made additional investments in the company.

The new funding will allow Scancell to accelerate the development of its leading products and to move to dedicated laboratories at the new BioCity Healthcare and Bioscience Innovation Centre in Nottingham, UK.

Commenting on the funding Dr Mike Capaldi, Scancell’s new CEO said:

“Scancell is very pleased to have succeeded in securing this investment in the current difficult market conditions. The company has already demonstrated its ability to develop new products and close commercial deals. The new investment will allow the company to bring its products closer to the clinic and to further develop its ImmunoBody® programme. We are also very excited about the move to BioCity, which will significantly help our growth plans.”

Dr Paul Nicholson, the Chairman of BioScience VCT, said:

“We are pleased to have made an investment in Scancell. The company has built a strong team to lead the development of its antibodies and its platform technologies and we look forward to supporting the company’s progress.”

Lucius Cary, Director of Oxford Technology 3 VCT, and the Managing Director of Seed Capital Ltd, the Investment Adviser to the Oxford Technology 3 VCT added:

“We are very pleased to have invested further in Scancell and continue to support the company and the research of its founder, Professor Lindy Durrant. This is a company that has developed a diverse pipeline of anti-cancer targets and platform technologies and assembled an outstanding team to deliver these to the clinic.”

Webcasts, Interviews and Media Coverage

New Scancell chief sets out his vision to commercialise groundbreaking cancer treatments

Cliff Holloway, chief executive of Scancell Holdings Plc (LON:SCLP), spoke to Proactive soon after taking over as CEO at the immuno-oncology company.

Holloway says generating clinical data's a big focus for them in the near-term.

''Over the next two years we expect to see clinical readouts from two of our programmes - SCIB1 and Modi-1''.

''We'll be extending our pipeline particularly around Moditope with the Modi-3 programme, if we're successful with the grand challenge''.

''Then it's around looking at technical partnerships that will allow us to de-risk our developments''.

Thu, 15 Feb 2018 12:38:00

Scancell to work with Dutch firm on first product for Moditope cancer immuno-therapy platform

Dutch group ISA Pharmaceutical will incorporate its Amplivant technology into Modi-1, the first cancer treatment candidate being developed on the platform

Thu, 15 Feb 2018 15:00:00

Scancell drug receives positive write-up in leading journal as company updates on survival data

Immuno-therapy SCIB1, which is expected to progress into Phase II clinical trials in the second-half of the year, was the focus of a peer-reviewed paper in OncoImmunology

Mon, 12 Feb 2018 11:50:00