Scancell Share Discussion Threads

[dgduncan] 13/3/2019 16:01

What would you think if someone borrowed some houses owned by you and your neighbours from the mortgagees and immediately sold them on the market ?. Sent out a circular saying there was a possibility of a motorway going through the area. With the glut of houses for sale, prices would crash and other owners would then get theirs on the market super quick to try and sell before the prices went even lower. What was once a respectable area is now a not so vibrant area. The ‘someone’ then buys the houses back at the lower prices and gives them back to the mortgagees. Job done and pocketed a good wedge and you still have your house - albeit a lot less in value. The ‘someone’ has pocketed a good sum but at yours and the other owners’ expense. Is this legal ??. No - of course it is not as this would be a ludicrous situation. It is however legal to do it with your stocks.
The AIM is less liquid than the main markets and is a breeding ground for this practice.
If you disagree with selling shares you do not own, please sign the government petition :

[inanaco] 13/3/2019 16:00

ONW you are over complicating ... when you did not even understand that a private company can issue shares

why is scancell issuing shares ?

it would receive £20m upfront plus shares in BioNtech

not pay £20m to Biontech for the privilege

[oldnotwise] 13/3/2019 15:51

inanco
Since your proposal For let's say simply GBP20M would involve SCLP issuing (Probably 100%+) of its current Market Capital in shares to obtain merely the cash element of your proposal, and as shareholders would have to agree just that bit of it, do you really believe that the longsuffering shareholders here would stand for that without some sort of sweetener?
Not only that, if we revert to your original proposal to take Biontech Private shares before an IPO, even if you could arrange that (which I doubt given the costs and probable compliance issues, you still leave Scancell with no cash, but illiquid private shares).
Who makes the price for the private shares we hold? Once you've found a banker to do that (thus collateral for borrowing against no practical reference point -thry're not market tradeable shares), you'll need to arrange for the loans to be set up etc and drawdowns, all against the risk of taking assets which are non Sterling , so don't disbelieve me, that'll cost too!
So having done all of this how then do you placate the existing shareholders who you've now Diluted out of sight whilst giving those shares to a collaborator who (because they're involved as an investor) will probably double if not more the 50% of the share base that they now hold through no cost to them and who have completely P*ssed off the loyal shareholder base who now have to see more funds wasted as the company arranges borrowings agains the Biontech (illiquid) shares that they now hold.
I'm not really sure that the EGM called to arrange the new share issue would go particulalry well, do you?
I've kept this simple.

That completely ignores the IPO and market rules for holdings in a UK listed company.
AIMO

[inanaco] 13/3/2019 15:45

so basically i see the collaboration as an objective guide to the potential,

so whoever takes on the Modi1 epitopes ... will need 2 and 3

[inanaco] 13/3/2019 15:42

Bermuda ....

it's more involved since the release of the homocitrulline data with the knowledge that they can work in Combo

I tried to explain all this in the run up to the GC. that Modi1/2/3 are interlinked

[bermudashorts] 13/3/2019 15:38

Inanaco,

At the moment the licensing option only covers Modi1 epitopes so let's stick to that. Can you give a rough idea of the amount you're expecting for any licensing deal for Modi1 only in terms of upfront payment, milestones and royalties. Only just your best rough guess.

[inanaco] 13/3/2019 15:35

ONW

That is what discussion is for ...

i have not moved, i am giving you a principle of value enhancing potential

now your asking me to predict the results of the TCR program and the value BioNtech would attribute to it .. ?

surely that is what the collaboration is actually trying to assess

[inanaco] 13/3/2019 15:30

Bermuda ...

as i have already explained these core epitopes cover 17 cancer indications

and indeed if they combined it with the homocitrulline program and added in the potential of the other 34 citrullinated proteins .. then a deal could develop that is substantial

now the reason is BioNtech is already proving up the Three epitopes so if a deal was done on those 3 they would be confident of the overall Moditope science

BioNtech are still committed to Modi3 ..as per scancells RNS ..

so why not present the entire program at IPO .. ?

[oldnotwise] 13/3/2019 15:26

Inanaco
I completely understand the concept.
However, You've moved your proposal already.
Now it's CASH and SHARES....
BUT
How much (value wise) do you consider you could do in this deal (In total?).

[bermudashorts] 13/3/2019 15:24

Inanaco - what sized deal are you expecting for licensing of modi1 TCR?

[bermudashorts] 13/3/2019 15:23

Another one to add to the list - sell off a glycan mAb or 2 :)

[inanaco] 13/3/2019 15:22

ONW

what is to stop a £20m upfront and shares ...

don't dismiss the post as you actually have not quite understood the concept

have you thought that the "value generated" by the collaboration could be to high even for BioNtech to consider ? without an IPO

[oldnotwise] 13/3/2019 15:18

Bermuda
Firstly, yet again I cut across your point a couple of posts back! :-( apols.

Yes I agree with you. Lets discuss funding options The company needs them.Perhaps we could consider what we know already about Funding sources we've tapped (sadly unsuccessfully) to date, and what new sources we might try.
Inanaco's come up with an idea that doesn't provide any liquidity for SCLP, and it's difficult to know whether it has legs until we know the amount that would be involved. So that's on hold until he gets back to tell us.
Then there's the IP we have and how that could be carved up and maybe sold off in bits, or maybe licensed.
Issue more SCLP shares but the SP's floundering.
More grants or competitive bids for research funds? I remember that £20m was going to be our saving grace up until earlier this year.
Further collaborations, but what funding facilities would we accept and against what?
That's for starters.
I'm sure there'll be more ideas to add to the list.
AIMO
ATB

[bermudashorts] 13/3/2019 15:07

likely to have a lock-in period though surely? I guess Scancell could borrow against the stock but early stage bios and loans = bad news usually. Either way unfortunately funding need is a bit more immediate for Scancell.

Good to be discussing funding options though.

[oldnotwise] 13/3/2019 15:04

Ok, I'll ignore my objections to the concept of the PRIVATE Biontech shares for our shares FTB.
I'd like to know how much you're suggesting Scancell should raise via your "Idea".
It's REALLY interesting...
:-)
ATB

[inanaco] 13/3/2019 15:00

depends on the IPO date

and the structure you could put in place on the strength of that share asset value

[bermudashorts] 13/3/2019 14:58

inanaco - interesting idea but not sure how it would solve any funding issues for Scancell.

[inanaco] 13/3/2019 14:53

Shares in a limited company are a form of property. As per the Companies Act 2006 and the conditions set out in a company's articles of association and shareholders' agreement, their ownership can be transferred or sold to other people. ... A company may also wish to create more shares by increasing its 'share capital'

[inanaco] 13/3/2019 14:51

Private companies have a share base ... no different, the directors just create shares

[oldnotwise] 13/3/2019 14:46

Inanaco
Just a question re Biontech how do they as a private company approaching an IPO "issue shares" to fund a share purchase from Scancell?

[oldnotwise] 13/3/2019 14:40

Panama, understand your frustration...
Doubt really that there's many here that don't.
ATB

[oldnotwise] 13/3/2019 14:39

Berm, sorry posts crossed...
ATB

[oldnotwise] 13/3/2019 14:38

Ichor are a business and their new version of Trigrid is one they'll want to sell, quite apart from their direct involvement in SCLP's trial. Thus we are a relatively small part of their concerns.
Inanaco, are you suggesting that Ichor would want to hold up the process?
If not I don't understand the reason for your post 20593.
Bear in mind due to the nature of the delivery system Ichor and Scancell are very much in it together.
AIMO
ATB

[bermudashorts] 13/3/2019 14:37

Inanaco,

A far bigger incentive for Ichor will be clinical data on the performance of the device when it comes to them applying for marketing approval.

[panama7] 13/3/2019 14:34

ONW, the only events that have ever come in on time are the fundraisings. They have given a date for each fundraise and it has gone ahead on time , funny that when they want our money it's all very smooth and works like clockwork.