Redmile endorses technologies with a further £30m
Lighthouse | 12 October 2020
Trinity Delta view: We have long held the view that Scancell has been under-funded and thus not able to progress its promising technologies as rapidly as we would have liked. This sizeable injection of £33m is not simply a tangible endorsement of the inherent value of the various programmes but will allow management to focus on delivering against its stated goals and milestones in a more timely manner. We currently value Scancell at £83.7m, equivalent to 13.3p/share (11.5p/share fully diluted). We intend to update our valuation and forecasts to reflect the fundraise following FY20 results (expected October 16). We do reiterate that this valuation is based on conservative assumptions and as yet attributes no value to the Avidimab platform or the COVIDITY programme.
12 October 2020
|Primary exchange||AIM London|
Scancell is a clinical-stage immuno-oncology specialist that has three 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.
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