Optimum partner secured for first antibody deal

Lighthouse | 25 October 2022

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  • Scancell has out-licensed global development and commercialisation rights to one of its in-house preclinical antibodies to antibody specialist Genmab. The product is an anti-glycan monoclonal antibody (mAb) which was generated on Scancell’s proprietary GlyMab platform, and Genmab has acquired the rights to develop the mAb into multiple novel therapeutic products for all disease areas, excluding cell therapy applications. Total potential milestones could reach up to a maximum of $624m for development across all modalities, with Genmab paying Scancell an upfront and potential future milestones of up to $208m for each product. Scancell is also entitled to receive a low single digit royalty on net sales of all commercialised products.
  • GlyMab is a novel antibody platform which generates high affinity anti-glycan monoclonal antibodies (mAbs). Tumour-associated glycans are attractive oncology targets as they are typically exquisitely tumour-specific, but the challenge has been to produce high affinity antibodies. The GlyMab platform has overcome this limitation and is highly flexible, and can thus be employed to produce many differentiated mAbs which can be developed into multiple products, such antibody drug conjugates (ADC), bispecific antibodies, chimeric antigen receptor T cells (CAR-T) etc. Five preclinical compounds with attractive, and promising, anti-tumour activities have been generated.
  • Genmab is a Danish biotechnology company focused on developing innovative and differentiated antibody therapeutics. Its antibody expertise has resulted in five approved products, notably Darzalex for multiple myeloma, which is marketed by partner JNJ and is expected to achieve $7.8-8.2bn in sales this year. In addition, Genmab has a broad pipeline of best- or first-in-class antibodies, which are based on in-house proprietary technology platforms and through strategic partnerships. Genmab aims to become a fully integrated biotech, and recently launched Tivdak for cervical cancer as part of a co-promote with partner Seagen. We note that Genmab is well capitalised, with c $3bn in cash, and is sustainably profitable.

Trinity Delta view: The deal with Genmab for a GlyMab antibody brings a well-regarded, highly experienced antibody expert as a partner. Importantly it is a strong external endorsement of Scancell’s in-house antibody capabilities. The total deal terms of up to $624m in potential milestones, plus royalties, could be material for Scancell if one or more products are developed and commercialised; Genmab has a proven track record of successful clinical development. The deal also reduces the development risks for Scancell and should enable rapid progression towards clinical trials, which Genmab can fully fund to maximise the commercial opportunities. Scancell management can now focus internal resources on advancing other GlyMab programmes, plus the vaccine platforms, Moditope and Immunobody, and on the AvidiMab antibody technology.


25 October 2022

Market Cap£107m
Primary exchangeAIM London
Company CodeSCLP
Corporate clientYes

Company description

Scancell is a clinical-stage immuno-oncology specialist that has four technology platforms. Two flexible therapeutic vaccine platforms are progressing through development. ImmunoBody and Moditope induce high avidity cytotoxic CD8 and CD4 responses, respectively, with the potential to treat various cancers.


Lala Gregorek
+44 (0) 20 3637 5043

Franc Gregori
+44 (0) 20 3637 5041


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