Scancell Holdings (LSE:SCLP) has secured a loan facility of up to US$25 million from funds managed by BlackRock to support the planned Phase 3 development of its iSCIB1+ melanoma programme.
The debt financing is being arranged alongside Scancell’s proposed merger with Neuphoria Therapeutics and planned Nasdaq listing.
The facility includes partially convertible tranches and warrants and is secured over group assets. The financing therefore creates repayment obligations and could result in future dilution through its convertible elements and warrants.
The arrangements are subject to conditions including shareholder approval and completion of the proposed U.S. listing transactions.
Initial US$7 Million Drawdown Planned
Scancell plans to draw an initial US$7 million from the facility following an upcoming extraordinary general meeting.
A further US$8 million is expected to become available following completion of the U.S. listing transactions and the opening of the first global Phase 3 clinical trial site for iSCIB1+.
The remaining availability under the facility provides Scancell with additional potential debt funding subject to the applicable terms and conditions.
iSCIB1+ Phase 3 Trial Targeted for End of 2026
Scancell is developing iSCIB1+ for advanced melanoma and plans to begin the Phase 3 trial by the end of 2026.
The company has received U.S. Food and Drug Administration Investigational New Drug clearance and approval from the UK’s Medicines and Healthcare products Regulatory Agency for the programme.
Scancell is targeting progression-free survival data from the Phase 3 programme during the second half of 2028.
The company is pursuing a development pathway that could potentially support accelerated approval, although any regulatory outcome remains subject to the clinical results and applicable regulatory processes.
Scancell Develops Cancer Immunotherapies
Scancell is a clinical-stage biotechnology company developing immunotherapies for cancer.
Its pipeline includes iSCIB1+, a DNA ImmunoBody being developed for advanced melanoma, as well as the Moditope-based Modi-1 programme and a GlyMab antibody portfolio. The company also has partnered programmes with Genmab.
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