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Final Results for the Year Ended 30 April 2011

30th June 2011

A Year of Significant Progress

Scancell Holdings plc, (‘Scancell’ or the ‘Company’) the developer of therapeutic cancer vaccines, announces results for the year ended 30 April 2011.

Highlights during the period:

  • Key development milestone reached with lead therapeutic melanoma vaccine SCIB1
    • Phase I/IIa clinical trials commenced 15 June 2010
  • Secured licensing agreements with:
    • The National Institutes of Health (an agency of the United States Department of Health and Human Services); and
    • Cancer Research Technology Ltd (Cancer Research UK's commercialisation and development arm)
  • Entered strategic collaborations with ImmuneRegen BioSciences, Inc and immatics biotechnologies GmbH
  • Loss before tax for the year of £1.72 million (2010: £1.8 million)
  • Cash at year end £1.1 million (not including the net proceeds from the Placing to be announced today)

To be announced today:

  • New lung cancer vaccine, SCIB2 – latest anti-tumour results in animal models provide further validation of ImmunoBody® vaccine technology platform and its commercial potential
  • Placing to raise £1.73 million (before costs) to fund the working capital of the Company
  • Appointment of Richard Goodfellow as Joint Chief Executive Officer

Professor Lindy Durrant, commented:

“We believe that, following completion of the Placing, we will have sufficient funding to complete the Phase I trials of our melanoma treatment and to advance the development of our series of new ImmunoBody® cancer vaccines to the pre-clinical proof of principle stage. After the Phase I clinical trial has been completed, and if the data is positive, the Company will seek to generate revenues from a commercial deal on the ImmunoBody® technology and will continue with the Phase II clinical trial. A successful outcome should present Scancell as an excellent acquisition opportunity with an exit remaining firmly on the agenda following the completion of the Phase II trial, expected early 2013.”

Enquiries:
Scancell Holdings Plc
Professor Lindy Durrant/Dr Richard Goodfellow
+ 44 (0)207 245 1100

Hansard Communications
Adam Reynolds/Guy McDougall
+ 44 (0)207 245 1100

Zeus Capital - Nominated Adviser
Ross Andrews/Tom Rowley
+ 44 (0)161 831 1512

View the full results (PDF file opens in a new window)

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