The update was provided alongside the firm’s interim results, which charted a busy period for the immunotherapies specialist, one in which it brought on board a new major shareholder, the Vulpes Life Science Fund.
Vulpes injected £3.9mln (which will effectively fund Scancell’s R&D effort in the near-term) for its 17% stake.
In its results statement for the six months ended October 31, the firm also flagged up the fact there are now three partners using its AvidiMab technology.
AvidiMab enhances “avidity”, a term used to describe the overall strength of binding between an antibody and an antigen.
Modifications made using the platform induce the direct tumour cell killing properties of Scancell's anti-glycan monoclonal antibodies and potentially increases their potency.
“Our new AvidiMab platform has generated significant interest and we have signed three agreements with different partners to evaluate its potential, that if successful, could translate into important commercial deals," said chief executive Cliff Holloway.
Turning Scancell’s pipeline, preparations around two other drug candidates – SCIB2 (targeting lung cancer) and Modi-1 (solid tumours) – are designed to usher them into the clinic.
The financials showed the company posted a loss of £3.1mln for the six months. As at October 31 it had £5.8mln in the bank.