Report
Franc Gregori ...
  • Lala Gregorek
  • Philippa Gardner

Scancell: Abundant development opportunities in immuno-oncology

Scancell’s investment case centres on the potential of the lead oncology programmes from its highly promising ImmunoBody and Moditope “off the shelf” platforms. Following the successful outcome from the SCOPE trial, iSCIB1+ has been selected as the optimal ImmunoBody candidate to progress into a potentially registrational trial. Forthcoming discussions with the FDA should define the registrational trial design. Other 2025 catalysts include further SCOPE data, plus early data from the RCC (renal cell carcinoma) cohort of the ModiFY study, which should provide useful insights into Modi-1’s potential benefit when coupled with double checkpoint inhibitor (CPI) therapy. The formation of GlyMab Therapeutics will separate Scancell’s immunotherapy and antibody platforms, reflecting their differing scientific needs and strategic direction. We expect the two businesses will attract different partners, investors and funding. Our rNPV valuation for Scancell is £382m, or 37p/share.
Underlying
Scancell Holdings

Scancell Holdings is engaged in the discovery and development of novel vaccines for the treatment of cancer based on its proprietary immuno-oncology platforms, ImmunoBody®, and Moditope®. Co.'s ImmunoBody® consist of SCIB1 melanoma vaccine, and SCIB2 lung cancer vaccine. Co. has a collaboration partnership to evaluate the use of its SCIB2 to treat non-small cell lung cancer. Co.'s Moditope® technology is a vaccine platform that targets neo-epitopes to overcome immune suppression induced by tumour cells. Co.'s Moditope® product, Modi-1 consists of two citrullinated vimentin peptides and one citrullinated enolase peptide for the treatment of breast cancer, ovarian cancer and sarcoma.

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Analysts
Franc Gregori

Lala Gregorek

Philippa Gardner

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