Statement re: Silicon Valley Bank (SVB)

RNS Number : 6657S

Scancell Holdings Plc

13 March 2023

 

13 March 2023

Scancell Holdings plc

("Scancell" or the "Company")

Statement re: Silicon Valley Bank (SVB)

Scancell Holdings plc (AIM: SCLP), the developer of novel immunotherapies for the treatment of cancer and infectious disease, can confirm that it has no banking relationship with either Silicon Valley Bank ("SVB") or Silicon Valley Bank UK ("SVB UK") and therefore no cash on deposit with them.

This announcement follows the closure of SVB by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation ("FDIC") as receiver, and the statement by the Bank of England noting that it has placed SVB UK into resolution.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).

For further information, please contact:
Scancell Holdings plc	[phone]
Dr Jean-Michel Cosséry, Non-Executive Chairman
Professor Lindy Durrant, CEO
Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker)	[phone]
Nicholas Moore/ Samira Essebiyea/William Palmer-Brown (Healthcare Investment Banking)
Nick Adams/Nick Harland (Corporate Broking)
Panmure Gordon (UK) Limited (Joint Broker)	[phone]
Freddy Crossley/Emma Earl (Corporate Finance)
Rupert Dearden (Corporate Broking)
FTI Consulting	[phone]
Simon Conway/Rob Winder/Alex Davis

About Scancell

Scancell is a clinical stage biopharmaceutical company that is leveraging its proprietary research, built up over many years of studying the human adaptive immune system, to generate novel medicines to treat significant unmet needs in cancer and infectious disease. The Company is building a pipeline of innovative products by utilising its four technology platforms: Moditope ^® and ImmunoBody ^® for vaccines and GlyMab^® and AvidiMab ^® for antibodies.

Adaptive immune responses include antibodies and T cells (CD4 and CD8), both of which can recognise damaged or infected cells. In order to destroy such cancerous or infected cells, Scancell uses either vaccines to induce immune responses or monoclonal antibodies (mAbs) to redirect immune cells or drugs. The Company's unique approach is that its innovative products target modifications of proteins and lipids. For the vaccines (Moditope ^® and ImmunoBody ^® ) this includes citrullination and homocitrullination of proteins, whereas its mAb portfolio targets glycans or sugars that are added onto proteins and / or lipids (GlyMab^®) or enhances the potency of antibodies and their ability to directly kill tumour cells (AvidiMab ^® ).

For further information about Scancell, please visit: https://www.scancell.co.uk/

 

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