Scancell Holdings Plc Second Commercial License Agreement with Genmab

RNS Number : 6884O

Scancell Holdings Plc

04 December 2024

 

4 December 2024

 

Scancell Holdings plc

("Scancell" or the "Company")

 

 

Scancell Announces Genmab Exercises Option to a Second Commercial License Agreement

 

Following on from a period of exclusive evaluation announced in June 2024, Genmab has exercised its option to license an anti-glycan monoclonal antibody generated via Scancell's proprietary

GlyMab® platform

 

This is the second commercial license with Genmab where Genmab has been granted worldwide exclusive rights for the development and commercialisation of novel therapeutic products for an antibody from the Scancell Glymab® platform

 

Scancell is to receive an upfront payment and potential development, regulatory- and commercial milestone payments of up to a maximum of $630 million if Genmab develops and commercialises products across all defined modalities. Scancell will also receive low single-digit royalties from Genmab on net sales of all such commercialised products

 

Scancell Holdings plc (AIM: SCLP), the developer of novel immunotherapies for the treatment of cancer, today announces that Genmab (NASDAQ: GMAB), an international biotechnology company, has exercised its option to license a Scancell investigational anti-glycan monoclonal antibody whereby Genmab has the exclusive right to develop and commercialise the Scancell antibody in multiple novel therapeutic products.   Scancell will be eligible to receive upfront and development and commercialisation milestone payments, as well as royalties on products sold.

 

The Scancell anti-glycan monoclonal antibody is a humanised antibody developed by Scancell, using its novel anti-cancer GlyMab® platform. This is one of five monoclonal antibodies currently in Scancell's antibody portfolio, which provides a rich reservoir of potential products for its in-house clinical development and further deals.

 

Prof Lindy Durrant, Chief Scientific Officer, Scancell, commented: "This option exercise for another anti-glycan monoclonal antibody from the Glymab® platform builds on our existing relationship with Genmab. The commercial license agreement follows an exclusive evaluation period, which further validates that our Glymab® antibody platform can generate novel, differentiated, highly tumour specific antibodies for therapeutic development. We are positive about continuing to work with Genmab and providing further updates to the market on both agreements as they progress."

 

This is the second commercial licence agreement Scancell has signed with Genmab following an earlier agreement signed in October 2022.

 

-ENDS-

 

For further information, please contact:
Scancell Holdings plc	[phone]
Phil L'Huillier, CEO Professor Lindy Durrant, CSO Dr Jean-Michel Cosséry, Non-Executive Chairman
Panmure Liberum Limited (Nominated Advisor and Joint Broker)	[phone]
Emma Earl, Freddy Crossley, Will Goode, Mark Rogers (Corporate Finance)
Rupert Dearden (Corporate Broking)
WG Partners LLP (Joint Broker)	[phone]
David Wilson/Claes Spang/Satheesh Nadarajah/Erland Sternby
ICR Healthcare
Mary-Jane Elliott/ Angela Gray/ Lindsey Neville	[phone] [e-mail]

                                                                               

 

About Scancell

 

Scancell is a clinical stage biopharmaceutical company that is leveraging its proprietary research, built up over many years of studying the human adaptive immune system, to generate novel medicines to treat significant unmet needs in cancer. The Company is building a pipeline of innovative products by utilising its four technology platforms: Moditope® and ImmunoBody® for vaccines and GlyMab® and AvidiMab® for antibodies.

 

Adaptive immune responses include antibodies and T cells (CD4 and CD8), both of which can recognise damaged or infected cells. In order to destroy such cancerous or infected cells, Scancell uses either vaccines to induce immune responses or monoclonal antibodies (mAbs) to redirect immune cells or drugs. The Company's unique approach is that its innovative products target modifications of proteins and lipids. For the vaccines (Moditope® and ImmunoBody® ) this includes citrullination and homocitrullination of proteins, whereas its mAb portfolio targets glycans or sugars that are added onto proteins and / or lipids (GlyMab® ) or enhances the potency of antibodies and their ability to directly kill tumour cells (AvidiMab® ).

 

For further information about Scancell, please visit: https://www.scancell.co.uk/

 

About GlyMab®

Scancell is building a pipeline of differentiated anti-cancer monoclonal antibodies ('mAbs') that target sugar motifs rather than proteins. The Company currently has five novel mAbs in early-stage development and has the potential to use its unique methodology to identify many more mAbs against glycan targets in the future. All cells are covered by a dense layer of sugar structures, called glycans, which change when a normal cell turns into a cancer cell. These glycan motifs that are associated with tumour malignancies can be targeted by antibodies such as the Company's GlyMab® portfolio. A robust portfolio of patents and applications, as well as know-how, surround the GlyMab® platform and generated drug candidates. The GlyMab® technology is part of Scancell's antibody portfolio, joining AvidiMab®, a technology that can be applied to all antibodies (regardless of the technology used to generate them) enhancing their potency and ability to directly kill tumour cells. This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).

 

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