Scancell Holdings plc Admissison to AIM
30th August 2010
Zeus Capital is pleased to announce that it has been appointed as nominated adviser and broker to Scancell Holdings plc (“Scancell” or the “Company”) and has recently advised the Company on its admission to AIM.
Scancell is a biopharmaceutical company focused on the cancer therapeutics market and is developing a pipeline of DNA vaccines for the treatment of cancer, based on its patented ImmunoBody® platform, which has the potential to overcome many of the limitations of conventional approaches to the development of cancer vaccines.
During 2010, the Company has raised £2.54 million, before expenses, to fund its foreseeable working capital requirements. The Directors of Scancell believe that the existing funds held by or available to the Group together with future anticipated revenues will be sufficient to allow completion of the Phase I/IIa clinical trial of SCIB1, its lead melanoma therapeutic vaccine.
The Company was originally admitted to trading on PLUS in September 2008. However, now that the Company has further strengthened its financial position and progressed the development of SCIB1, the Directors believe that it is in the best interests of the Company and its shareholders for Scancell’s ordinary shares to be admitted to trading on the AIM market. The Directors believe that the move up to AIM represents a natural transition for the Company and that the potential benefits of an AIM listing will include an increased public profile for the Company.
Zeus Capital has advised Scancell since July 2009.