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Scancell Holdings PLC - Oxford, England-based developer of immunotherapies - Raises £10.3 million from the placing and direct subscription of 97.7 million shares at 10.5 pence each. The amount beats the target set by Scancell late Wednesday. It had hoped to raise at least £8.5 million. The placing is run by Panmure Liberum Ltd. Scancell hopes to raise a further £1 million from a retail share offer at the same price via the Winterflood Retail Access Platform. The equity raise will give Scancell a cash runway to the second half of 2026, providing funding to develop its lead cancer vaccine, SCIB1, and the next generation iSCIB1+. On Wednesday, Scancell said Copenhagen-based partner Genmab AS exercised its option to license an investigational anti-glycan monoclonal antibody generated via Scancell’s Glymab platform. Genmab will have the exclusive right to develop and commercialise the Scancell antibody in multiple therapeutic products, and Scancell will be eligible to receive upfront and development and commercialisation milestone payments, as well as royalties on products sold. Current stock price: 11.13p 12-month change: down 6.4% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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