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Interesting post, and while for some odd reason I am having trouble sleeping, i thought I would respond to..........
""Now whether or not to lay that at the feet of the board is a matter of opinion and debate.
Not meant to be negative, just a statement of fact.""
Well I have never been one to lay the blame at the feet of the BOD, entirely, that IMHO with many other things is why I chose some time go to ignore after consideration the cackling of the ADVFN BB. Firstly and foremost, which is the reason I chose not to watch the news or read the Daily Press is because all they do is attach the blame for everything at the feet of whoever the shoe will fit, and "blame" is something I gladly grew out of some years ago, especially when it is done so in retrospect and create news at a time when the channels need something new to gossip about. That is not a political statement but I maintain when I want to hear news I want to hear what is happening now and not what should of happened in retrospect when everything like in life we would have done differently knowing the facts, that we know today.
I think Chiplin has been much maligned by posters without considering that when he took the helm the company was in a shambles, a deal had been lost and we needed a new stratagy. His response was to grow the company in key positions, where we had more scientists and senior staff making us a one stop shop, where we even had a manufacturing expert, Adrian Parry, in-house which essentially we could control and manufacture smaller doses for lab research at a fraction of the cost of outsourcing it.
It was done too to make us a better take over target where the company ""Scancell" was a small organisation which could easily be absorbed into a larger entity, rather than just being reliant on key person Lindy Durrant. With that obviously came a much larger overhead, which was probably calculated to do commercial deals in the mid term, say two years and be self financing., and above all be able to prepare for clinical trials far sooner. This has not happened, we can proportion some of that to the FDA, certainly in the last couple of years, MOD1 I feel has been targetted at big Pharma before clinical trial and the result of that has been one big u-turn to gather data as soon as possible to prove up our claims, in the absence of any commercial deals they might have planned for. I won"t delve into SCIB2, Avidamab and COVIDITY for the purpose of this post, other than to say in order, it is about time CRUK got this into trial, Avidamab we were always given a 12 month timeline with the first due in September and COVIDITY is something we are waiting on currently and all know the importance to Scancell.
C7, thanks for the comprehensive response.
I’ve never blamed the board solely for where we are. Could they have done things differently - yes. Might doing things differently have yielded better results - possibly not.
The fact is, this isn’t like an episode of the apprentice where the teams are given a fairly simple eminently doable task. The success or failure is entirely down to their competence or incompetence. Biotech is far more complex, the human body is infinitely complex and the approaches to fixing it equally complex. There are obstacles that could not be foreseen, regulatory considerations and in some cases just plain bad luck.
If we want to apportion blame, we should blame ourselves for our distorted expectations- we all thought we would make a lot more money a lot quicker. This fact alone is the main driver of board criticism in my view. We didn’t realise the enormous cost of developing one drug let alone 6 or 7.
I have to put you straight on your comment of “ the constant bleatings on ADVFN of the BODs incompetence” - there aren’t any. There is the odd comment, but no more and no less than the odd comment here. Panama (who I met at lithe AGM) was the most vociferous but he hasn’t posted for many weeks, I just hope he is OK. Still, as you don’t visit, you were not to know that.
Well, I have restored my 1 year older than you status today, so go easy!
Happy Birthday Ruck shame no RNS pressie yet but that has been the same for the last 100 bdays here lol
What would be good to know that we don't is, for instance, the likes of Roche what they do not continually see in scancell that means they never seem to be attracted at least to the point of getting involved or is there something they see that we miss ...
……..and therein lies the rub Crumbs.
Thanks crumbs.
Statistically, there is a very high probability that one of the RNS has come out on one of our birthdays.
Those expectations have not changed, indeed they have been consolidated, because of the way the science has been developed without the rush for Glory ... like i have said many times its the Trials that really eat the cash . not the research
get the basics right ... which is what scancell has done
for instance .... Improve immunobody to cover a greater population with the disease .... Done
Improve Moditope efficacy by using Hydrophobic peptides linked to Amplivant .... work in progress
CRUK scientists validating SCIB2 and improving delivery of the vaccine with a gene gun
Targeting areas that are really difficult Cold Cancers ..... Homocitrulline
Concentrating on specific CD4 Binding .... TCR
Developing MABs that can influence finding the perfect CD4 T cell ... Mab 2811
Being able to target Sugars with Antibodies that not only attach to cancer cells but can inflict carnage and indeed which then attracts other elements of the immune system ....
what the market has not done is value any of this ... its just an incredible opportunity, like i said many times, if you can afford to top up as you go, then its easy to hold. because its when the music stops its payday ...
I can never see an instance when we would be in the position say of MTFB ...
Happy birthday Ruck.
To me the problem seems quite clear. The science is good - when 'tested' it has shown itself to be effective through the pre-clinical and clinical work and has shown itself to be credible through the collaborations which it has engendered. The BOD, on the other hand, have not proven themselves to be effective in the critical area of deal making - this is not a criticism of the BOD as I'm sure they have been trying, but results speak for themselves and so far they have shown themselves not to have the capability to achieve this. To criticise the BOD for failing to get a deal would be like criticising a defender for not not regularly scoring - what the BOD need to do is address their now obvious weakness by recruiting somebody with the skill, credibility, experience, industry standing and contacts to fill this deal making gap. Easier said than done but clearly needed. If they can't do a deal now when the opportunity for COVIDITY and the science that underpin it are so good then that says it all for me.
Inan,
“ Those expectations have not changed”
Are you saying that when you first invested in 2012 you expected to tie your capital up for eight years with zero return?
Or
Was there an expectation of £3.20 within 12/18 months as alluded to by RG?
I think 99.9% of investors here have had their expectations changed. The other .1% are just lying :)
Ruck - Happy Birthday
Miavoce - good to see you posting
Thanks miavoce.
One of the problems with lacking skills and experience in a certain area is being able to assess who has so recruitment becomes a challenge.
There was a ratings update published yesterday - I don't subscribe to this one, but I'm hoping someone here does. https://www.sadifanalytics.com/reports/find/SCLP-1299
It came up in my twitter search this morning.
Miavoice indeed... And we know pharma are even willing to chuck huge amounts at science that turns out to be a waste of their money so there is something of an attractiveness problem here yes nana is right scancell have never stopped improving the science and adding to the IP but many tiny bios manage to do that with bigger partners that are missing here... Still nothing on BioNTech TCR... Maybe it is something the Diggles have noticed I think the bringing in of Ursula could be vindictive of that? but who knows .. still we wait :)
indicative, not vindictive lol...that was more their small sells
Hi Ruck
yes, agreed. The other problem, which often precedes problem you mention, is the recognition by the BOD that they actually have a problem / weakness which they need to address. This is where non-execs are key in identifying weaknesses in the BOD (are ours good enough to do this ?), and I guess shareholders can play their part if they raise the matter in an effective way. The recruitment problem could be partially overcome by using a specialist recruiter, but there will no doubt be lots of small pharmas looking for the same thing.
Done that all my life mate ....... ended up with more buildings than i can count on my fingers ... but that takes on a significance later in life as debt falls and inflation creeps up ... if i was to trade property maybe i could have made more money .... who knows
so easy to suggest after an event than before ... maybe i should have sold all in 2006/7 then bought back in 2010 ... but what i do know the property value's in 2006 have been surpassed in 2018/19 ... what happens next ... no idea, but now, because i held i have the QTY of property to ride the storm, and the right property in the storm .. (no retail)
What you maybe have not understood from my posts ... my expectations have risen not fallen ..
Hi Crumbs
yes, maybe that is why Ursula was brought in as a non-exec but her bio on the company site doesn't imply any background in deal making. Clearly Mr. Diggle will want to see commercial progress so my hopes are currently pinned on him orchestrating appropriate changes.
Being Invested here for about 2 years. When Investors speak of Big Pharmas getting Involved with Sclp. When I see that No Pharma has taken a serious Interest In SCIB1 which Imo wouldn't fill you with great expectations. When you look at SCIB1 seemingly with very good results and with little Interest shown by anyone. Then being tried with other compounds when I thought with the results It received.....would be a Very worthy stand alone compound. Would't fill you with hope for any of Sclp's upcoming compounds. Though on the People In the Co trying to do their best. AIMO.
#
'|\ 87uyhg 9 9jhnb h 9iujhnb *Morning Ruck,
*+*+Happy Birthday Buddy, and thanks for your comprehensive reply.
Absolutely agree with ""instant riches"" comment, seems like yesterday, and the price is still 6p, lol.
-
Fair comment too re Panama and the ADVFN BB, I really cannot remember the last time I looked in there, I was just sent the private e-mails i had with ........and the comments froma few dying to hear whether I had committed murder or something to hang me for, when in fact it contained nothing. Presumably you saw those posts, and might just understand my feelings towards it.
Yes I was glad you posted what you did, perhaps one day we will find out more, perhaps we won"t, reading back I never meant to sound as negative as I did yesterday, but it was how I felt and had since we started the fall from 8.5p. Lets hope we can get back on track and news is not so far off. It seems like an age since we have heard anymore, and it has in fact been four weeks. I noticed N4Pharma put out a COVID19 update today, is there really nothing to update us about??
Have a good day Ruck
I think she has pretty good form and is well known in the right circles:
'Ursula Ney has more than thirty years of experience in the pharma and biotech industries, with comprehensive knowledge of drug development and partnering. Her experience also includes broad global management, leading integrations and M&A. Ursula joined Genkyotex from Antisoma plc where, as Chief Operating Officer, she was responsible for activities ranging from research through all aspects of drug development and business development. From 2002 until joining Antisoma, Ursula was CEO of Charterhouse Therapeutics. Prior to this, she was Director of Development and on the Board of Directors at Celltech plc, with responsibility for many NCE and antibody development programs and collaborations with major pharma partners. She started her early career as a pharmacologist working in research for Roche (UK) and Sandoz (Basel).'
Dracula ....
You clearly do not have a Clue what Scancell is doing ..
"""Then being tried with other compounds when I thought with the results It received.....would be a Very worthy stand alone compound.""""
What did I miss?.......Who bought SCIB1.
Thanks crumbs, that sounds more promising ref Ursula.
you have to take in the whole 10 years of immunbody development and the way the market has changed with other approvals and failures to understand how we have arrived here today
its not a case of Scancell sitting on the fence
Its a case that Scancell has adapted and developed immunobody with the knowledge that other areas ie the check points have developed ... and the way it slots back in to achieve commercial advantage
It had commercial advantage in 2013 ............
but failure after failure of big pharma to build a cancer vaccine soured the market
you have to consider that Keytruda was nearly Binned ....
its only if you can look at the entire picture do you see that actually we are still in a prime position ...
but employing staff to match Big Pharma is not going to come cheap ....
CEO Company Total pay
BRENTON L SAUNDERS ALLERGAN $32,827,626
ALEX GORSKY JOHNSON & JOHNSON $29,802,564
IAN C READ PFIZER INC $27,913,775
LEONARD S SCHLEIFER REGENERON PHARMACEUTICALS $26,508,058
Hi inanaco
I certainly wasn't implying that we should be looking to match big Pharma with regard to CEO calibre and salary - that will be a happy day when we can afford to do that. At this stage we just need to make sure the BOD has the right personnel on board to be able to get some deals done.
the problem at this level ... its not salesman that close deals if you look at some of the top execs they are scientists ..
collaborations that might lead to deals are done by the scientists ..
CRUK investment all down to the science