Scancell, the developer of novel immunotherapies for the treatment of cancer, announces that further to the announcement of the results from Part 2 of its on-going Phase 1/2 clinical trial on 9 December 2013, share options were granted on 10 December 2013 to the Executive Directors. Prof Lindy Durrant and Dr Richard Goodfellow, Joint Chief Executive Officers, have each been granted options over 3,500,000 ordinary shares (the “Options”) in the Company under an Unapproved Share Option Scheme.
The Options, which will vest over a period of three years in three equal tranches, are subject to the achievement of performance criteria including scientific and commercials milestones as specified by the Remuneration Committee. The exercise price of the options is 33.2p (being the average closing price of Scancell shares since 1 August 2013 up to and including 9 December 2013).
Details of the total shares and options held by the executive team following the issue of the Options are set out in the table below:
| |
Share Options |
Shares held under Joint Share Ownership Plan |
Shares held in own name |
Total |
| Professor Lindy Durrant |
7,350,000 |
8,773,960 |
1,606,960 |
17,730,920 |
| Dr Richard Goodfellow |
6,380,000 |
6,343,840 |
200,000 |
12,923,840 |
For Further Information:
|
Dr Richard Goodfellow, Joint CEO
|
Scancell Holdings Plc |
+ 44 (0) 20 7831 3113 |
|
Professor Lindy Durrant, Joint CEO
|
Scancell Holdings Plc |
|
|
Camilla Hume/Stephen Keys
|
Cenkos Securities Plc |
+44 (0) 20 7397 8900
|
| Mo Noonan/Simon Conway |
FTI Consulting |
+ 44 (0) 20 7831 3113
|
About Scancell
Scancell is developing novel immunotherapies for the treatment of cancer based on its ImmunoBody® and Moditope® technology platforms. Scancell’s first ImmunoBody®, SCIB1 is being developed for the treatment of melanoma and is in Phase 1/2 clinical trials. Preliminary evidence from Part 1 of the study showing that SCIB1 produced an immune response which might be associated with clinical benefit in patients with malignant melanoma was released in December 2012.
Scancell’s ImmunoBody® vaccines target dendritic cells and stimulate both parts of the cellular immune system; the helper cell system where inflammation is stimulated at the tumour site; and the cytotoxic T-lymphocyte or CTL response where immune system cells are primed to recognise and kill specific cells.
Scancell has also identified and patented a series of modified epitopes that stimulate the production of killer CD4 that destroy tumours without toxicity. The Directors believe that the Moditope® platform could play a major role in the development of safe and effective cancer immunotherapies in the future.