Scancell, the Nottingham based cancer vaccine developer, released an update on progress towards meeting the trigger for the second tranche payment from the sale of Scancell’s antibody portfolio to Arana Therapeutics in 2006.
The sale included provision for deferred consideration of £2.85 million when the first patient is treated with a drug derived from any of the antibodies which were the subject of the sale, provided that this occurs prior to 6 December 2011. A notice has recently appeared on ClinicalTrials.gov, a service of the US National Institutes of Health, confirming that a Phase 1 Study of CEP-37250 (formerly known as Scancell antibody SC104) in patients with advanced solid tumours is expected to start in October 2011 in three US clinics. The Phase 1 study has not yet started and there is no guarantee that it will do so in time to satisfy the milestone.
The SCLP share price has decreased by 44% over the last year.
Scancell Holdings Plc is currently graded c by LCF Research. To learn more, follow the link.
