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Scancell soars as it begins research into coronavirus vaccine

The company is anticipating a phase 1 clinical trial in the first quarter of 2021

Scancell Holdings PLC - Scancell to begin development of coronavirus vaccine

Scancell Holdings PLC (LON:SCLP) shares jumped higher on Friday as it revealed it has begun a research programme to develop a vaccine for the coronavirus.

The project, to be led by the company’s chief scientific officer Lindy Durrant, will aim to utilise the company’s clinical expertise in cancer to produce a cost-effective and scalable vaccine to induce both durable T cell responses and virus neutralising antibodies against coronavirus.

READ: Scancell receives US regulatory green light

“It is becoming increasingly clear that the induction of potent and activated T cells may play a critical role in the development of long-term immunity and clearance of virus-infected cells. Although other vaccines may reach the clinic earlier, the company believes its combined T cell and antibody approach should give more potent and long-lasting responses, ultimately leading to better protection”, Scancell said in a statement.

Initial research is now underway, with the company anticipating a phase 1 clinical trial in the first quarter of 2021. The firm is also “actively seeking” development partners and additional partners to support rapid development of the vaccine.

“Vaccines are the long-term solution and we believe our combined high avidity T cell and neutralising antibody approach has the potential to produce a second-generation vaccine that will generate an effective and durable immune response to [coronavirus]", Durrant said.

Shares in Scancell soared 60.8% higher to 8.2p on Friday morning.

-- Adds share price --

Quick facts: Scancell Holdings PLC

Price: 11.5 GBX

LSE:SCLP
Market: LSE
Market Cap: £93.75 m
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