Director/PDMR Shareholding

RNS Number : 2171V

Scancell Holdings Plc

11 December 2013

 



11 December 2013

Scancell Holdings Plc

('Scancell' or the 'Company')

Grant of Options to Directors

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 Professor Lindy Durrant, Joint CEO	Scancell Holdings Plc Scancell Holdings Plc	+ 44 (0) 20 7831 3113
Camilla Hume/Stephen Keys	Cenkos Securities	+ 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.

 

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