25 October 2011
Scancell Holdings Plc
(`Scancell' or the `Company')
Progress on possible second tranche payment from Arana Therapeutics
Scancell Holdings Plc, (AIM: SCLP), the developer of therapeutic cancer
vaccines, is pleased to provide shareholders with an update on progress towards
meeting the trigger for the second tranche payment from the sale of Scancell's
antibody portfolio to Arana Therapeutics in 2006.
On 1 December 2006, Scancell sold its portfolio of antibodies to Arana
Therapeutics (then known as Peptech (UK) Limited and subsequently acquired by
Cephalon Inc). The consideration for the sale was a cash payment of £2 million,
which was paid on completion of the sale, plus a possible further sum of £2.85
million gross which is payable when the first patient is treated with a drug
derived from any of the antibodies which were the subject of the sale, provided
that this occurs prior to 6 December 2011.
A notification has recently appeared on ClinicalTrials.gov, a service of the US
National Institutes of Health, confirming that a Phase 1 Study of CEP-37250
(formerly known as Scancell antibody SC104) in patients with advanced solid
tumours is expected to commence in October 2011 in three US clinics.
The Phase 1 study has not yet commenced and there is no guarantee that it will
commence in time to satisfy the milestone; it therefore cannot be assumed that
the contingent consideration will be paid. Shareholders will be kept fully
updated with any further developments.
For further information contact:
Scancell Holdings Plc + 44 (0)207 245 1100*
Professor Lindy Durrant
Hansard (Financial PR) + 44 (0)207 245 1100
Adam Reynolds/ Guy McDougall
Zeus Capital - Nominated Adviser/Joint + 44 (0)161 831 1512
Broker
Ross Andrews/Tom Rowley
XCAP - Joint Broker +44 (0)207 101 7070
Jon Belliss/ Adrian Kirk
*calls to this number will reach Hansard, at Scancell's instruction.
About Scancell
Scancell is developing novel therapeutic vaccines for the treatment of cancer
and infectious diseases based on its groundbreaking ImmunoBody® technology
platform. Scancell's first cancer vaccine SCIB1 is being developed for the
treatment of melanoma and entered clinical trials in 2010.
Treating cancer by vaccination allows small non-toxic doses of a vaccine to be
administered to a patient, stimulating an immune response. Effective cancer
vaccines need to target dendritic cells to 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.
A limitation of many cancer vaccines currently in development is that they
cannot specifically target dendritic cells in vivo. Several groups have
demonstrated successful vaccination by growing dendritic cells ex vivo, pulsing
them with tumour antigens and re-infusing them. However, this procedure is
patient specific, time consuming and expensive. Scancell has developed its
breakthrough patent protected ImmunoBody® technology to overcome these
limitations.
An ImmunoBody® is a human antibody or fusion protein engineered to express
helper cell and CTL epitopes from tumour antigens over-expressed by cancer
cells. Antibodies are ideal vectors for carrying T cell epitopes from tumour
antigens as they have long half-lives and can effectively target dendritic
cells via their Fc receptors, allowing efficient stimulation of both helper and
CTL responses.
The Immunobody® technology can be adapted to provide the basis for treating any
tumour type and may also be of potential utility in the development of vaccines
against hepatitis, HIV and other chronic infectious diseases.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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