Scancell to raise up to £8mln to develop its three main drug candidates

Cliff Holloway, chief executive at Scancell Holdings Plc (LONSCLP), tells Proactive Investors they're raising up to £8mln through a placing and open offer – cash that will be used develop their three main drug candidates.

A placing and subscription at 12 pence a share will account for £6mln of the total.

The company also wants to include existing investors, so is planning a £2mln open offer of stock once the placing has been concluded.

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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''.

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