Last checked at 18 Jul 2018 07:00
18 July 2018
Scancell Holdings Plc
("Scancell" or the "Company")
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.
Cliff Holloway, CEO of Scancell, said:
"Ichor's proprietary TriGrid electroporation delivery system is a vital component for the delivery of our SCIB1 vaccine and in particular, to our upcoming US clinical study of SCIB1 in combination with a checkpoint inhibitor, which is expected to commence later this year. The exercise of this commercial option is a further key milestone in bringing this important new treatment to the market."
Robert Bernard, President & CEO of Ichor, added:
"Scancell's strategy to induce high avidity T cells with its SCIB1 vaccine delivered by Ichor's TriGrid, coupled with a checkpoint inhibitor to enhance tumour destruction, is exciting and promising for improved patient outcome. Ichor is pleased that Scancell has joined its growing list of partners in the immuno-oncology field with their exercise of the commercial option for the TriGrid 2.0."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).
For Further Information:
Scancell Holdings Plc |
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Dr John Chiplin, Chairman |
| +44 (0) 20 3727 1000 |
Dr Cliff Holloway, CEO |
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Panmure Gordon (UK) Limited (Nominated Adviser and Corporate broker) |
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Freddy Crossley |
| +44 (0) 20 7886 2500 |
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FTI Consulting Mo Noonan/Simon Conway |
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+44 (0) 20 3727 1000 |
About Scancell
Scancell is developing novel immunotherapies for the treatment of cancer based on its ImmunoBody® and Moditope® technology platforms.
ImmunoBody® vaccines target dendritic cells and stimulate both parts of the cellular immune system. They can be used as monotherapy or in combination with checkpoint inhibitors. This platform has the potential to enhance tumour destruction, prevent disease recurrence and extend survival.
· SCIB1, the lead programme, is being developed for the treatment of melanoma. A phase 1/2 clinical trial has so far successfully demonstrated survival data of more than five years.
· SCIB2 is being developed for the treatment of non-small cell lung cancer and other solid tumours. Scancell has entered into a clinical development partnership with Cancer Research UK for SCIB2.
Moditope® represents a completely new class of potent and selective immunotherapy agents. It stimulates the production of killer CD4 T cells which overcome the immune suppression induced by tumours, allowing activated T cells to seek out and kill tumour cells that would otherwise be hidden from the immune system. Moditope® alone, or in combination with other agents, has the potential to treat a wide variety of cancers.
· Modi-1 is being developed for the treatment of triple negative breast cancer, ovarian cancer and sarcomas.
For further details, please see our website: www.scancell.co.uk
About Ichor and the TriGrid® Delivery System
Ichor is dedicated to the clinical application and commercialization of electroporation technology for the delivery of DNA drugs and vaccines to treat and prevent debilitating or life threatening diseases. They are applying their proprietary TriGrid® delivery system to enable delivery of DNA drugs to address unmet medical needs in areas including therapeutic cancer vaccines, therapeutic proteins and vaccines for serious infectious disease.