Final Results for the Year Ended 30 April 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.”

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)