RE: RNS......................Tri- Grid18 Jul 2018 08:11
Scancell exercises TriGridÒ worldwide commercial option from Ichor
SCIB1 Phase 2 checkpoint combination study scheduled to start in H2 2018
Scancell Holdings plc, ("Scancell" or the "Company") the developer of novel immunotherapies for the treatment of cancer, is pleased to announce that it has exercised its option to a worldwide commercial licence for the use of Ichor Medical Systems' ("Ichor's") proprietary TriGrid® 2.0 electroporation delivery system with SCIB1, Scancell's ImmunoBody® vaccine for the treatment of melanoma.
The exercise of this option to licence Ichor's electroporation delivery system enables Scancell to use the new TriGrid® 2.0 as the delivery system for its planned Phase 2 checkpoint inhibitor combination study with SCIB1 in patients with advanced melanoma. The study will be led by Principal Investigator Dr Keith Flaherty, Director of the Termeer Center for Targeted Therapy at Massachusetts General Hospital and Associate Professor at Harvard Medical School. Patient enrolment into this trial is expected to commence in the second half of 2018.
As expected, and in line with the Company's commercialisation plans, an option fee will be payable (within 30 days of exercise) to Ichor, with further milestone payments due from the start of future Phase 3 clinical trials. The Company has also granted an extension of the period for exercise of the Tranche 2 share options (3,184,620 ordinary shares) issued as part payment for the licence option, which will be immediately exercised by, subscribed for and allotted to Ichor, as part of the Company's exercise of the commercial licence option. Ichor has agreed to hold these Tranche 2 shares for a period of at least two years from their date of issue.
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