The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
I should have added that HYG is formerly Hygea, now Seneca Growth Capital VCT (HYG), an investment trust 'to provide shareholders with an attractive income and capital return by investing its funds in a portfolio of both unquoted and quoted UK MedTech companies which meet the relevant criteria under the VCT Rules.'
Having seen a more than 100% return from 12p to 25p, I don't blame them for selling 500k shares - but isn't it telling that they are holding on to the other 10.5 million!!
Here's to a good day, all...
As at 5 December 2022, the unaudited NAV for an Ordinary share was 40p per share. This is an increase of 13p from the previously published unaudited NAV of 27p as at 30 September 2022 and is due to a significant increase in the share price of the Ordinary share pool’s largest quoted investment by value, Scancell Holdings Plc (“Scancell”), net of the associated performance fee accrual and running costs. AIM quoted investments made up 85% of the Ordinary share pool’s NAV as at 30 September 2022. The Ordinary share pool’s NAV fluctuates largely in line with the movement in its two AIM quoted investments. The share price of the Ordinary share pool’s other quoted investment, Arecor Therapeutics Plc, has remained relatively flat since 30 September 2022 at 240p per share as at 5 December 2022.
Scancell announced in October a licensing agreement with Genmab, an international biotechnology company, to develop and commercialise a Scancell investigational anti-glycan monoclonal antibody into novel therapeutic products. Under the agreement, Scancell is to receive an upfront payment as well as potential milestone payments of up to $208 million for each product developed and commercialised, up to a maximum of $624 million if Genmab develops and commercialises products across all defined modalities. Scancell will also receive royalties from Genmab on net sales of all commercialised products. In the same month, Scancell announced its first-in-human clinical trial, Modi-1 (ModiFY), had progressed successfully through cohort 1 and 2 and that the trial will progress onto cohort 3 safety testing. In November, the company announced a licensing agreement with Vaccitech plc to use their SNAPvax™ technology to formulate and manufacture its Modi-2 product. As a result of these developments, Scancell’s share price has increased from 12p as at 30 September 2022 to 23p as at 5 December 2022, representing a 92% increase.
We are pleased that the market is recognising the continuing developments at Scancell and have taken the opportunity to realise a further modest portion of our holding by selling 500,000 shares at 25p per Scancell share. Our remaining holding is 10.5 million shares and we continue to monitor the progress of Scancell closely
And Full Government Announcement Here:
https://www.gov.uk/government/news/government-to-use-vaccine-taskforce-model-to-tackle-health-challenges#:~:text=Cancer%3A%20%C2%A322.5%20million%20will,earlier%2C%20more%20effective%20cancer%20diagnosis.
Daily Telegraph Online 28 Nov 22:
A vaccine for cancer is to be sought by a new taskforce set up to emulate the success of the Vaccine Taskforce (VTF) which delivered the world’s first Covid jab. The Government has announced £113 million to set up groups to tackle four of the biggest health challenges facing Britain - cancer, obesity, mental health and addiction. Each will be led by an independent expert in the same way that Kate Bingham took charge of the VTF, which became a hugely successful part of the Government’s pandemic response.
The cancer mission will be given £22.5 million to develop new cancer vaccines and immune-based therapies. Funding will also be used to develop new ways to diagnose the condition earlier. Dr Ian Walker, Executive Director of Policy, Information and Communications at Cancer Research UK, said: “The Cancer Mission is an important step to put research at the heart of the UK’s efforts to beat cancer. “It is great to see funding committed to accelerate research that shows promise in detecting and diagnosing cancer earlier, and treating cancer more precisely.”
The Government has said it intends to harness world-leading research expertise and remove unnecessary bureaucracy.
Steve Barclay, the Health and Social Care Secretary, said: “Conditions such as cancer and obesity prevent people leading long, healthy lives and cost the NHS billions of pounds every year. “By harnessing the same spirit of innovation that delivered the vaccine rollout and working hand in hand with the NHS, industry and healthcare experts, we’re building a stronger, healthier NHS.”
Full article here:
https://www.telegraph.co.uk/news/2022/11/28/taskforce-ran-covid-19-vaccine-rollout-tackle-new-cancer-inoculation/
Just to add that the update is from a patient in the Modi-1 trial in the cohort NOT taking pembrolizumab...
"I am in in cohort 2, I too have squamous cell head and neck cancer, I was on pembro for 6 months before being accepted on to the trial. The side effects are quite mild and so far the results have been incredible ... I have to keep pinching myself."
Sorry for the double post there...
Interestingly, that 15th June RNS was predicting early efficacy data from the SCOPE trial by the end of 2022 and I don't think we've had anything subsequently suggesting that it's delayed...?
A couple of big delayed sells just showing. If that follows the pattern of recent days, I suspect it may be Calculus continuing to offload (responsibly) into a rising SP. Hopefully it will now consolidate again - this time around 18p - so that we can push on higher again tomorrow. AIMHO. GLA.
The SP over the last 10 days has felt a bit like my standard poodle when he"s out on a walk and sees a pigeon. He wants to chase but I hold him back on his extendable lead, but then as his owner (i.e. the MMs) I let the lead out bit by bit (i.e. penny by penny, day by day) and there inevitably comes a point when I let him off the lead entirely to run free. I wonder if we are getting to 'let the lead off' time...?
As a cynic, that was my first reaction too, Ray, but I was convinced otherwise by the lady's previous posts on the Macmillan forum, which include, three months ago:
" I've been on Pembrolizumab since December last year. The tumour hasn't shrunk unfortunately but its only grown a tiny bit and hasn't spread to any other areas so far
I've had 11 rounds and the sideceffects have been very manageable, nainy I just get more fatigued than normal, hardly any other issues other than that.
My Oncologist has put me forward for a clinical trial for a vaccine, it's a phase 1 trial so it hasn't been used in humans before but I decided it was in for a penny in for a pound so I had all the screening and consent doe yesterday and hope to start on the vaccine very soon.
It's definitely worth giving the immunotherapy a go, it works better for some than others and so far it has stabilised my cancer so it's considered to be working for me. My concern is how long that will last for which is why I've decided to sign up for the vaccine trial. The scary part is that the Pembrolizumab has to be paused when I start it so there is a chance that things may go in the wrong direction however there is the chance that the opposite will happen and it will increase the work already done by the Pembro and attack the tumour .... that is the hope.
I feel incredibly privileged to be getting a place on the trial, it's not been proven to work but it hasn't failed either so it's time to be brave and take a leap of faith.
Good luck with your treatment Clarab, keep us up to date and I will do the same regarding the Modi vaccine trial. Things are developing rapidly with cancer treatments now so there is still hope for all of us.... keep strong and keep smiling, its the only way to go xxx".
As I say, that was three months ago and seems to me to support her heartwarming post yesterday about the tumour reduction that she is now experiencing. She is thankful for the science and we should be too.