Scancell Holdings reports strong progress over six months

Scancell Holdings said it was 'confident' of achieving its 'near-term' clinical milestones as the company posted its interim results for the six months to end-October last year.
The Oxford Science Park-based developer of immunotherapies for treating cancer and infectious disease, told investors the period had seen "strong clinical, development and organisational progress".
A statement from chief executive officer Phillip L'Huillier said: "Our lead cancer vaccine, SCIB1, reported exceptional results in the Phase 2 SCOPE trial for advanced melanoma and is supplemented by good clinical progress with the next generation iSCIB1+ and Modi-1 for Renal Cell Carcinoma and Head & Neck cancer. This leaves multiple clinical milestones in 2025."
L'Huillier, who began as CEO in November last year, added: "The recently announced licensing deal with Genmab for a second anti-glycan antibody and the capital raise of £11.3 million in gross proceeds provide us with a cash runway beyond these milestones into H2 2026."
Key near term milestones for the group include SCIB1 full cohort 1 data in 43 patients reaching 25-week objective response rate (ORR) in mid-2025.
Also eyed is iSCIB1+ full Cohort 3 data in 43 patients reaching 25-week objective response rate (ORR) in the second half of 2025.
The company noted that in December last year it had brought in gross proceeds of £11.3 million via an oversubscribed capital raise with significant participation from both existing and new investors.
Research and development (R&D) costs increased to £8 million (2023: £5.7 million) due to increased manufacturing and clinical costs on the SCOPE trial, the firm said.
Administrative expenses remained consistent at £2.5 million (2023: £2.4 million). The group cash balance as at end-October was £9.1 million, down from £14.8 million at end-April last year.
Scancell reported an operating loss for the six months of £10.5 million, compared to a loss of £8.1 million in the six months to October 31, 2023.
The company is building a pipeline of products using four technology platforms: Moditope and ImmunoBody for vaccines and GlyMab and AvidiMab for antibodies.