(Sharecast News) - Immunotherapies developer Scancell Holdings has entered into a collaboration agreement with Cobra Biologics to manufacture the firm's Covid-19 vaccine.
Scancell said on Friday that the pair's agreement covered Good Manufacturing Practice production of plasmid DNA needed to generate its vaccine against SARS-CoV-2 for use in a Phase 1 clinical trial in 2021.
The AIM-listed group highlighted that the project was funded by an Innovate UK grant awarded to its consortium with the University of Nottingham and Trent University.
Scancell said its vaccine had the potential to provide long-lasting immunity against Covid-19 by generating protection not only against the SARS-CoV-2 strain but also potentially against new strains of the coronavirus.
Chief executive Dr Cliff Holloway said: "Our collaboration with Cobra is critical to us moving forward with our novel SARS-CoV-2 vaccine into the planned Phase 1 clinical trial, COVIDITY.
"Cobra has the expertise needed to produce clinical-grade plasmid at scale and we look forward to working with them to advance our vaccine and demonstrate its potential effectiveness and protection against Covid-19."
As of 0915 BST, Scancell shares were up 7.46% at 18.0p.
IN BRIEF: Scancell Non-Exec Director Martin Diggle buys 400,000 shares