StockMarketWire.com - Scancell reported continued good progress in development of Modi-1, the lead product from the Moditope platform in the year to 30 April 2017.

HIGHLIGHTS:

- Strong survival data for patients with Stage III/IV malignant melanoma on SCIB1 Phase 1/2 clinical trial

- 18 of 20 patients with resected disease remain alive, survival well beyond established norms

- Of the 16 resected patients who received a 2-4mg dose of SCIB1, seven patients have now survived for five years since starting treatment and only six patients have had recurrence of their disease, of whom, two have died

- Final Clinical Study Report completed in December 2016 which included safety, immunology and clinical data from patients with Stage III/IV melanoma up to 29 October 2015

- Investigational New Drug (IND) application for SCIB1 Phase 2 checkpoint inhibitor combination study expected to be submitted in early 2018, with patient enrolment planned for 2018

- Ultra-efficient linked adjuvant identified that works at up to 100-fold lower doses than could be achieved previously

- Aiming to file a Clinical Trial Application (CTA) in the UK for the planned Phase 1/2 clinical trial in breast cancer, ovarian cancer and sarcoma in 2018

- Early feedback from the European Patent Office suggests that broad patent claims for the Moditope platform may be allowable

- Opening of new offices in San Diego to support the company's US growth plans, and in Oxford for its UK corporate and development activities

- Loss for year of £3.5m (2016: loss £2.6m)

- Group cash balance at 30 April 2017 was £2.7m (30 April 2016: £6.5m)

POST-PERIOD HIGHLIGHTS:

- Raised £4.7m in a placing of new ordinary shares

- Funds to be used to initiate the clinical development of Modi-1 and to continue to support the ImmunoBody platform pipeline

- Patent granted in Europe for Scancell's DNA ImmunoBody technology

- Counterparts to this patent have already been granted in the US, Australia and Japan




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