Amendment to Options

RNS Number : 0851N

Scancell Holdings Plc

27 January 2016

 

27 January 2016

Scancell Holdings Plc

("Scancell" or the "Company")

Amendment to Options

Scancell Holdings plc ('Scancell' LSE:AIM SCLP), the developer of novel immunotherapies for the treatment of cancer, announces an amendment to the time period for options granted to the joint Chief Executives, Professor Lindy Durrant and Dr Richard Goodfellow, for 3,850,000 options and 2,880,000 options respectively.

In order to ensure continued alignment of the interests of shareholders and the management team, the exercise period of the options granted on 14 July 2010 has been extended from 31 December 2015 to 12 July 2020.  All options are subject to the achievement of performance vesting criteria as specified by the Remuneration Committee. 

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For Further Information:

Dr Richard Goodfellow, Joint CEO Professor Lindy Durrant, Joint CEO	Scancell Holdings Plc	+ 44 (0) 20 3727 1000
Robert Naylor (Corporate Finance) Maisie Atkinson (Sales)	Panmure Gordon & Co	[phone] [phone]
Mo Noonan/Simon Conway	FTI Consulting	+ 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.

Scancell's first ImmunoBody®, SCIB1 is being developed for the treatment of melanoma and is being evaluated in a Phase 1/2 clinical trial. Data from the trial demonstrate that SCIB1, when used as monotherapy, has a marked effect on tumour load, produces a melanoma-specific immune response and highly encouraging survival trend without serious side effects. In patients with resected disease there is increasing evidence to suggest that SCIB1 may delay or prevent disease recurrence.

Scancell's ImmunoBody® vaccines target dendritic cells and stimulate both parts of the cellular immune system: the helper cell system where inflammation is stimulated at the tumour site and the cytotoxic T-lymphocyte or CTL response where immune system cells are primed to recognise and kill specific cells.

Pre-clinical data on a combination of SCIB1 or SCIB2 and checkpoint inhibition (blockade of the PD-1 or CTLA-4 immune checkpoint pathways) have shown enhanced tumour destruction and significantly longer survival times than when either treatment was used alone.

Scancell has also identified and patented a series of modified epitopes that stimulate the production of killer CD4+ T cells that destroy tumours without toxicity. The Directors believe that the Moditope® platform could play a major role in the development of safe and effective cancer immunotherapies in the future.

 

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