12th Jun 2024 13:13
(Alliance News) - Scancell Holdings PLC on Wednesday announced a major international biotechnology company will exclusively evaluate a Scancell investigational anti-glycan monoclonal antibody for development of novel therapeutic products.
Under the terms of the agreement, Scancell has granted the company seven months exclusivity for evaluation, which includes an USD1 million exclusivity payment payable within 30 days.
Shares in Scancell, the Oxford, England-based developer of immunotherapies for treatment of cancer and infectious diseases, jumped 12% to 10.50 pence each in London on Wednesday.
Chief Executive Officer of Scancell Lindy Durrant said: "This provides further validation of the potential of our antibody platform to create novel, differentiated antibody products. Whilst the agreement is for an initial exclusive evaluation period, there is an option to licence, and we look forward to providing the market with any updates in due course."
The Scancell anti-glycan monoclonal antibody is a humanised antibody developed by Scancell, using its anti-cancer GlyMab platform.
By Jeremy Cutler, Alliance News reporter
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