RE: Developing the Science13 Sep 2020 16:46
Well from where we were and the journey to get here I think we are all in a far better situation than we were and Lindys original 'tenfold or bust' I think has changed very favourably not sure what she would give as a figure now but I know she knows the potential commercial value of her works .....
'One company chief optimistic about raising funds even in today’s dire markets is cancer expert Professor Lindy Durrant of Nottingham University, who heads PLUS-quoted Scancell, a developer of cancer vaccines. The company, a spin-off from the university, bases the vaccines on its patented ‘ImmunoBody’ platform, and is researching novel vaccines for melanoma, with a target of reaching Phase 1 clinical trials next year.‘We need to show the vaccines work on patients,’ explains Durrant, ‘but trials, tests and marketing are expensive.’ So, after raising £6 million in various stages from private individuals and venture capital trusts, she took Scancell to PLUS quoted in September, raising £1.5 million at 60p in the process.‘We’ll need to raise a bit more for clinical trials’, reflects Durrant, who is advised by St Helen’s Capital. Finding PLUS’s terms more acceptable than those the venture capital trusts wanted to impose, she sounds reasonably confident about the next stage. ‘We now have three years of trials, with no big news flow till then’, she points out, ‘and I’ve told investors it’s either a tenfold gain or nothing.’
https://www.growthcompany.co.uk/durrants-high-stakes-game-991967/