Scancell Holdings plc: Interim Results for the 6 months ended 31 October 2022
pharmafile | January 25, 2023 | News story | Business Services |
Scancell Holdings plc (AIM: SCLP), the developer of novel immunotherapies for the treatment of cancer and infectious disease, today announces its interim results for the 6 months ended 31 October 2022 and provides a business update on progress achieved to date.
Highlights (including post period):
Vaccines:
- Fourteen patients enrolled and dosed in the expansion phase of the monotherapy arms in the multicentre Phase 1/2 Modi-1 clinical trial (ModiFY). First patient dosed in Cohort 3 of ModiFY in combination with a checkpoint inhibitor (CPI). There have been no safety issues to date.
- Expansion of SCIB1 Phase 2 combination trial (SCOPE) protocol to include SCIB1 in combination with checkpoint doublet therapy leading to significantly increased recruitment rate.
- In-licensed the SNAPvax™ technology from Vaccitech plc to formulate and manufacture Modi-2, with the aim of initiating a Phase 1 clinical study in cancer patients during H1 2024.
- Recruitment completed in COVIDITY Phase 1 clinical trial in South Africa, with safety and immunogenicity data expected in Q1 2023, providing read across to our second-generation ImmunoBody® platform.
Antibodies:
- Plans to take two GlyMab® monoclonal antibodies (mAbs), a redirecting T-cell bispecific (TCB) antibody and a T cell costimulatory mAb into the clinic, with initiation of TCB manufacturing in H1 2023 prior to clinical evaluation in 2024.
- Signed licensing agreement with Genmab to develop and commercialise an anti-glycan mAb, with the Company being eligible to receive milestone payments of up to $208 million for each product developed and commercialised, up to a maximum of $624 million if Genmab develops and commercialises products across all defined modalities.
- AvidiMab® technology continues to be applied to the Company’s internal programmes whilst evaluating how AvidiMab® could be used to enhance the efficacy of third-party antibodies.
- Preclinical data on GlyMab® and AvidiMab® antibody platforms presented at PEGS Europe and EuroMAbNet Annual Meeting in H2 2022.
Corporate:
- John Chiplin has announced he will resign as Executive Chairman for personal reasons but is staying on for an interim period until a new Chair is appointed.
- Dr Richard Goodfellow, stepped down a Board Director at the 2022 Annual General Meeting (AGM).
- Susan Clement Davies, an independent Non-Executive Director and Chair of the Audit Committee, appointed as Deputy Chair.
Financial:
- Reported loss for the 6-month period to 31 October 2022 of £3.2 million (31 October 2021 profit of £3.2 million).
- Received licence fee of £5.3 million relating to the up-front payment receivable from Genmab following the signing of the licence agreement in October 2022.
- Group cash balance at 31 October 2022 was £24.0 million (April 2022: £28.7 million) with a cash runway until Q1 2024.
Prof Lindy Durrant, Chief Executive Officer, Scancell, commented:
“We are pleased to report another period of progress for Scancell, including strong clinical and commercial developments. We have continued to advance our ModiFY Phase 1/2 trial for Modi-1 and the SCOPE Phase 2 trial for SCIB1 and expect to generate safety, immune and clinical response results during 2023. During the period, we also continued to progress our earlier stage pipeline having signed an in-licensing agreement with Vaccitech.
“It has been a defining period for our proprietary antibody platform as we have signed a licensing agreement for one of our anti-glycan mAbs with Genmab, providing strong validation of the platform and the Company’s scientific approach. We remain one of only a few companies worldwide that has the capability to produce high affinity, humanised anti-glycan antibodies and continue to evaluate options and potential agreements for the Company’s GlyMab® antibodies in order to provide further third-party validation, develop the business and generate revenues. We would like to thank our shareholders for their continued support over the past 6 months and look forward to updating the market on our future clinical and operational progress during 2023.”
A full copy of the announcement can be found on the Scancell website: www.scancell.co.uk
