6th Jan 2014 08:27
LONDON (Alliance News) - Cancer therapy developer Scancell Holdings PLC Monday said it has received a GBP80,000 grant from Nottingham City Council and will use the funds to hire more staff to help develop its new Moditope technology platform.
The funding is coming from the UK government's Regional Growth Fund. The Nottingham grants are awarded mainly to small- and medium-sized companies to support business growth and expansion in the Greater Nottingham area.
Scancell's Moditope platform is being developed after the company identified and patented a series of modified epitopes that stimulate the production of killer CD4 that destroy tumours without toxicity.
"This funding will allow us to expand our skill base and boost our productivity at this important juncture in the company's history," joint Chief Executive Richard Goodfellow said.
Scancell shares were down 5.2% at 32 pence early Monday.
By Steve McGrath; [email protected]; @SteveMcGrath1
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