Scancell
Oxford, United Kingdom

Scancell is a clinical-stage immuno-oncology specialist that is developing two innovative and flexible therapeutic vaccine platforms. ImmunoBody and Moditope induce high avidity cytotoxic CD8 and CD4 responses, respectively, with the potential to treat various cancers.

www.scancell.co.uk

Investment Perspective

Scancell has raised c £15m (gross) in aggregate through the issue of new shares (via a placing, subscription, and open offer) and £6m in convertible loan notes (CLNs). The raise was underpinned by the £10m investment (£5m in equity, £5m CLNs) from new investor, Redmile Group LLC, a specialist healthcare and life sciences fund group. Redmile’s investment, coupled to support from existing cornerstone investor, Vulpes (£1m in equity, £1m CLN) provides important validation of Scancell’s technology platforms, and the clinical and commercial value they represent. Scancell now has the financial resources to enable it to progress the clinical opportunities outlined in our May 2020 Outlook. Following confirmation of shareholder approvals at the August 11th General Meeting, we update our rNPV model and reinstate our Scancell valuation. This is now £83.7m, equivalent to 13.3p/share (11.5p/share fully diluted).

Market information

SymbolPrimary exchanges
SCLPAIM London

Research

UKRI awards funding for COVID-19 trial
Lighthouse | 27 Aug 2020
Transformational £15m capital raise closes
Update | 12 Aug 2020
Material fund raise means clinical progress in sight
Lighthouse | 22 Jul 2020

Recent News

COVID-19 vaccine awarded funding by Innovate UK
27 Aug 2020
Results of General Meeting
11 Aug 2020
Shareholder circular
23 Jul 2020
Proposed Capital Raise to raise up to £15m
22 Jul 2020