20th Jul 2016 08:30
LONDON (Alliance News) - Scancell Holdings PLC said Wednesday it has been granted an extension for the commercial use of Ichor Medical System Inc's electroporation technology in treating melanoma.
Electroporation involves introducing DNA or chromosomes into bacteria or other cells using a pulse of electricity to open the pores in the cell membranes briefly.
Scancell, a developer of immunotherapies for cancer treatment, said it is has been granted a further extension for the use of Ichor's TriGrid technology. This is used in conjunction with SCIB1, Scancell's ImmunoBody vaccine, for the treatment of melanoma.
In return, Scancell has granted a partial waiver over the two-year prohibition of the sale of ordinary shares in Scancell, issued as part payment to Ichor for the licence option. Ichor will remain under a market agreement requiring any sale of the shares during the two year period to be effected through Scancell's brokers.
Under the terms of the extension, Scancell's licence option, which had been due to expire on July 13, has been extended until July 13, 2018.
Shares in Scancell were down 2.6% at 19.00 pence Wednesday morning.
By Lucy Heming; [email protected]
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