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Scancell Holdings PLC (LON:SCLP) described the 12 months to the end of April as a “busy and productive year” – one in which the building blocks for the clinical development of its two lead drugs were laid.

Alongside its prelims, the company confirmed manufacturing of its Modi-1 vaccine for solid tumours, developed from the Moditope platform, is progressing well. As a result it expects to be able begin clinical trials in the first-half of next year.

Its lead drug, SCIB-1, developed from its ImmunoBody technology, has recently entered a phase II clinical trial here in the UK.

The study will initially assess the safety and efficacy of the treatment in 25 people with metastatic form of the skin cancer, melanoma. SCIB-1 will be used in harness with Merck’s checkpoint inhibitor Keytruda.

Scancell remains in discussions with regulators over the minutiae of a parallel clinical assessment in the US.

A £3.9mln injection from the life sciences fund Vulpes will effectively bankroll the latest R&D.

As is common with drug developers at this formative stage of their development, the group was loss-making. The defict for the year was £5.6mln as development expenditure grew to £4.15mln.