Scancell Holdings Plc PDMR dealing (3227L)
09 Septiembre 2021 - 10:31AM
UK Regulatory
TIDMSCLP
RNS Number : 3227L
Scancell Holdings Plc
09 September 2021
9 September 2021
Scancell Holdings plc
("Scancell" or the "Company")
PDMR dealing
Scancell Holdings plc (AIM: SCLP), the developer of novel
immunotherapies for the treatment of cancer and infectious disease,
today announces an update to CEO, Professor Lindy Durrant's
remuneration/incentive package to bring it in line with the
increased responsibilities of her new role.
Professor Durrant who co-founded the Company in 1996 has been
awarded 9 million new share options, at an exercise price of 21.25
pence per share, based upon the weighted average price over the
previous thirty days as part of a long-term incentive scheme
("Options"). The Options are exerciseable yearly in equal tranches
for a period of three years from grant. At the same time it has
been agreed to transfer to Professor Durrant 6,840,633, joint
ownership shares previously awarded to her through the Scancell
Employee Benefit Trust (the "Shares"). Subject to completion of
that transfer Professor Durrant has agreed to sell the Shares in
two separate off-market transactions. An existing institutional
investorhas agreed to purchase 4,459,681 of the Shares at 20.38p
pence per share and a private individual has agreed to purchase
2,380,952 shares at 21 pence per share.
As part of the refreshed incentive package arrangements and the
transaction above, Professor Durrant will no longer be interested
in the 1,933,327 shares which were held jointly by the Employee
Benefit Trust and Professor Durrant. Taking the above into account,
following the sale of the Shares, Professor Durrant will hold
1,665,783 shares representing 0.2% of the voting rights of the
Company and options over an additional 22,850,000 ordinary
shares.
Dr John Chiplin, Executive Chairman, said:
"The Board of Directors wants to ensure Professor Durrant is
compensated in line with her new responsibilities as CEO. Lindy has
been a key driving force in Scancell over the last 25 years and we
are glad that as part of the update to her remuneration/incentive
package she is able to realise value from her commitment and hard
work for the company since foundation."
For further information, please contact:
Scancell Holdings plc +44 (0) 20 3727 1000
Dr John Chiplin, Executive Chairman
Prof Lindy Durrant CEO
Panmure Gordon (UK) Limited (Nominated Adviser
and Joint Broker) +44 (0) 20 7886 2500
Freddy Crossley/Emma Earl (Corporate Finance)
Rupert Dearden (Corporate Broking)
Stifel Nicolaus Europe Limited (Joint Broker) +44 (0) 20 7710 7600
Nicholas Moore/Ben Maddison (Healthcare Investment
Banking)
Nick Adams (Corporate Broking)
FTI Consulting +44 (0) 20 3727 1000
Simon Conway/Natalie Garland-Collins
About Scancell
Scancell is developing novel immunotherapies for the treatment
of cancer based on its technology platforms, ImmunoBody(R) ,
Moditope(R) and AvidiMab(TM) , with four products in multiple
cancer indications and development of a vaccine for COVID-19.
ImmunoBody(R) vaccines target dendritic cells and stimulate both
CD4 and CD8 T cells with the ability to identify, target and
eliminate cancer cells. These cancer vaccines have the potential to
be used as monotherapy or in combination with checkpoint inhibitors
and other agents. The Directors believe that this platform has the
potential to enhance tumour destruction, prevent disease recurrence
and extend survival.
DNA vaccine against COVID-19: As research data emerges, 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. Initial
research is underway and Scancell anticipates initiating a Phase 1
clinical trial known as COVIDITY during 2021.
Moditope(R) represents a completely new class of potent and
selective immunotherapy agents based on stress-induced
post-translational modifications (siPTMs). Examples of such
modifications are citrullination, an enzyme-based conversion of
arginine to citrulline, and homocitrullination (or carbamylation),
in which lysine residues are converted to homocitrulline.
Expression of peptides containing these modifications have been
demonstrated to induce potent CD4 cytotoxic T cells to eliminate
cancer. The Directors believe that this platform has the potential
to eradicate hard to treat solid tumours.
AvidiMab(TM) has broad potential to increase the avidity or
potency of any therapeutic monoclonal antibody (mAb) including
those being developed for autoimmune diseases, as well as cancer.
Scancell's development pipeline includes mAbs against specific
tumour-associated glycans (TaGs) with superior affinity and
selectivity profiles, that have now been further engineered using
the Company's AvidiMab(TM) technology; this confers the Scancell
anti-TaG mAbs with the ability to directly kill tumour cells. The
mAbs targeting TaGs can also be used to deliver cytotoxic payload
to cancer or to redirect T cells. The Company has entered into
three non-exclusive research agreements with leading antibody
technology companies to evaluate the Company's anti-TaG mAbs
including those enhanced with the AvidiMab(TM) technology.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH
THEM
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name Lindy Durrant
------------------------------- -----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status CEO
------------------------------- -----------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Scancell Holdings plc
------------------------------- -----------------------------------------
b) LEI 2138008RXEG856SNP666
------------------------------- -----------------------------------------
4 Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
--------------------------------------------------------------------------
a) Description of the Ordinary Shares of 0.1 pence each
financial instrument,
type of instrument
------------------------------- -----------------------------------------
b) Identification Code GB00B63D3314
------------------------------- -----------------------------------------
c) Nature of the transaction Sale of shares
------------------------------- -----------------------------------------
d) Price(s) and volume(s) 4,459,681 ordinary shares at 20.38 pence
per ordinary share
2,380,952 ordinary shares at 21.0 pence
per ordinary share
------------------------------- -----------------------------------------
e) Aggregated information 6,840,633 ordinary shares at 20.6 pence
- Aggregated volume per ordinary share
- Aggregated price
------------------------------- -----------------------------------------
f) Date of the transaction 9 September 2021
------------------------------- -----------------------------------------
g) Place of the transaction Oxford
------------------------------- -----------------------------------------
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END
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(END) Dow Jones Newswires
September 09, 2021 11:31 ET (15:31 GMT)
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