Scancell’s investment case centres on the lead cancer vaccines from its highly promising ImmunoBody and Moditope “off the shelf” platforms. Key data from two programmes will determine future development plans and define the commercial opportunities. The first, and most important, are the imminent SCOPE trial results: a successful outcome will allow selection of the optimal candidate (SCIB1 or iSCIB1+) to take into a potentially pivotal Phase II/III trial. Later in 2025, early data from the renal cell carcinoma (RCC) cohort of the ModiFY study should provide decisive insights into Modi-1’s potential benefit when coupled with double checkpoint inhibitor (CPI) therapy. A new company, GlyMab Therapeutics, has been formed to separate Scancell’s vaccine 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 remains £330m, or 32p/share.
Scancell: Trinity Delta
Jul 9, 2025Disclaimer & Declaration of Interest
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