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Scancell surges as it inks third collaboration deal for AvidiMab technology

The US firm will conduct preclinical studies to evaluate whether antibodies developed by Scancell's AvidiMab platform can treat cancer

Scancell Holdings PLC - Scancell surges as it inks third collaboration deal for AvidiMab technology

Scancell Holdings PLC (LON:SCLP) shares surged on Monday as it signed the third collaboration agreement for its AvidiMab technology with a US antibody company.

The AIM-listed firm said the research deal will see both groups assess monoclonal antibodies (mAbs) targeting tumour-associated glycans (TaGs), including those that have been enhanced by the AvidiMab platform.

READ: Scancell signs second AvidiMab collaboration, this time in China

The US firm will conduct preclinical studies to evaluate the potential for the anti-TaG mAbs developed by AvidiMab to treat cancer.

 "This continued momentum with AvidiMab and our tumour-associated glycan antibodies demonstrates the growing excitement around this platform”, said Scancell chief executive Cliff Holloway.

“This is another important collaboration for Scancell and illustrates the future value that this third platform could potentially generate for the company", he added.

The news sent the shares surging 7.9% to 6.7p in early deals.

Quick facts: Scancell Holdings PLC

Price: 11.6 GBX

LSE:SCLP
Market: LSE
Market Cap: £94.57 m
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