RNS Cont......................1 Jul 2019 08:38
Vulpes investment and Board position
In June, Scancell raised gross proceeds of £3,877,965.55 by the issue of 77,559,311 new ordinary shares to Vulpes Life Sciences Fund. Following this investment, Martin Diggle, Co-Founder and Portfolio Manager of Vulpes Investment Management, has been appointed to the Company's Board of Directors as a Non-Executive Director.
Dr Cliff Holloway, Chief Executive Officer, Scancell, commented:
"It has been a busy and productive six months for Scancell. We were pleased to welcome Vulpes as a shareholder in June and their investment not only strengthens our cash position, but provides a ringing endorsement of Scancell's future potential. We look forward to working with Martin Diggle, who will provide valuable insight as a Non-Executive Director.
In addition to expanding our team and establishing a Clinical Advisory Board of world class clinical oncologists, we further advanced our ImmunoBody® and Moditope® pipeline and expanded our intellectual property portfolio. In April, we received UK regulatory approval to initiate the new SCIB1 Phase 2 clinical trial and we look forward to updating the market on the US arm of this trial and patient recruitment in due course."