News blog
Scancell Holdings
- BY: Andrew Hore |
- POSTED: 25/10/2011 |
Vaccines developer Scancell Holdings says that there is a chance that it may receive the £2.85m of deferred consideration from the sale of a portfolio of antibodies in 2006.
The first patient has to be treated with a drug derived from the antibodies by 6 December 2011 for the deferred payment to be made. There is not long to go but a phase I study of a treatment for patients with advanced solid tumours is expected to start this month in three US clinics.
It is always possible that it could be delayed and not start until after 6 December, though.
The news sparked a fall in the share price which is 0.25p lower at 5.5p, which values Scancell at £10.2m. The share price had bounced back from a low of 4.5p earlier this month.
Scancell has been awarded a patent for its lead vaccine SCIB1, which is a treatment for melanoma. Two groups of patients have been evaluated in the phase I trial for SCIB1 which started in June 2010. The use of an increased dosage has been approved. A phase II study could be underway by the beginning of 2012.
Calculus Capital bought another 10m shares during the summer taking its stake to 13%.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2011_25.pdf
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