Business
Extension to Ichor Commercial Option
Extension to Ichor Commercial Option.
About this update from Scancell Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 6714E Scancell Holdings Plc 20 July 2016 \n\n20 July 2016\n \nScancell Holdings Plc\n(\"Scancell\" or the \"Company\")\n \nExtension to Ichor Commercial Option \n \nScancell Holdings plc, ('Scancell' or the 'Company') the developer of novel immunotherapies for the treatment of cancer is pleased to announce that it has been granted a further extension to its option to licence the commercial use of Ichor Medical Systems' (\"Ichor's\") proprietary TriGrid® electroporation delivery system with SCIB1, Scancell's ImmunoBody® vaccine for the treatment of melanoma. In exchange, Scancell has granted a partial waiver over the lock-up which prohibited the sale, during the two years following their issue, of ordinary shares in the Company (\"Ordinary Shares\") issued pursuant to exercise of the Tranche 2 share options (over 3,184,620 Ordinary Shares), issued as part payment for the licence option, as originally announced 16 July 2009 and extended in July 2014. Subject to exercise of the Tranche 2 share options, Ichor will remain under an orderly market agreement requiring any sale of such Ordinary Shares during that two year period to be effected through Scancell's brokers. \n \nUnder the terms of the agreed extension, Scancell's licence option, which had been due to expire on 13 July 2016, has been extended until 13 July 2018. \n \nRichard Goodfellow, CEO of Scancell, said:\n \n\"Ichor's proprietary TriGrid® electroporation delivery system remains central to our studies on SCIB1 and in particular, to our upcoming US clinical study of SCIB1 in combination with a checkpoint inhibitor, expected to commence in 2017. We are delighted to have extended the licence option agreement to commercialise their technology on the terms as set out above and we appreciate Ichor's continued support of our SCIB1 programme as we continue its clinical development as a potential treatment for patients with melanoma.\"\n \nRobert Bernard, President & CEO of Ichor, added: \n \n\"Scancell has continued to generate outstanding survival data using our TriGrid® electroporation delivery system in conjunction with their lead ImmunoBody® vaccine, SCIB1. We believe that SCIB1 has the potential to be a significant new treatment option for patients with melanoma, ...