Shares in Scancell Holdings (AIM:SCLP ) jumped this morning after it was unveiled that Cobra Biologics will manufacture the company’s COVID-19 vaccine ready for a phase I clinical trial.
The biopharmaceutical firm said the agreement covers production of plasmid DNA needed to generate the DNA vaccine against SARS-CoV-2.
Scancell said the production of plasmid DNA represents ‘a crucial development’ in producing a COVID-19 vaccine for use in the phase I trial, which is named COVIDITY because it can be produced at scale and to therapeutic-grade standards.
The new vaccine, which will targets SARS-CoV-2 nucleocapsid and spike proteins, could provide long lasting immunity against COVID-19 by generating protection not only against this strain, but also against new strains of coronavirus that may arise in the future.
Shares in Scancell Holdings have traded strongly over the past three months and were trading 11.19% higher at 20.90p this morning following the announcement.
The project is funded by an Innovate UK grant awarded to the consortium between Scancell, the University of Nottingham and Trent University, as previously announced in August 2020.
The company said that Cobra’s ‘long-established plasmid production platform along with in-house expertise will ensure the highest quality plasmids are produced for COVIDITY.’
"Our collaboration with Cobra is critical to us moving forward with our novel SARS-CoV-2 vaccine into the planned Phase 1 clinical trial, COVIDITY,” said Dr Cliff Holloway, CEO of Scancell.
He added, “Cobra has the expertise needed to produce clinical grade plasmid at scale and we look forward to working with them to advance our vaccine and demonstrate its potential effectiveness and protection against COVID-19."
The initial stages of GMP manufacture are scheduled to start imminently, the group noted.
Follow News & Updates from Scancell Holdings here: