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On 13 March 2023, Scancell Holdings plc confirmed it has no banking relationship with Silicon Valley Bank or Silicon Valley Bank UK and holds no cash on deposit with either entity. This announcement followed the closure of SVB by the California Department of Financial Protection and Innovation and the Bank of England placing SVB UK into resolution.
| Date | 13 Mar 2023 |
| Time | 07:00:07 |
| Category | Miscellaneous |
| ID | 6657S |
13 March 2023
Scancell Holdings plc
("Scancell" or the "Company")
Statement re: Silicon Valley Bank (SVB)
Scancell Holdings plc (AIM: SCLP), the developer of novel immunotherapies for the treatment of cancer and infectious disease, can confirm that it has no banking relationship with either Silicon Valley Bank ("SVB") or Silicon Valley Bank UK ("SVB UK") and therefore no cash on deposit with them.
This announcement follows the closure of SVB by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation ("FDIC") as receiver, and the statement by the Bank of England noting that it has placed SVB UK into resolution.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).
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For further information, please contact: |
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Scancell Holdings plc |
+44 (0) 20 3727 1000 |
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Dr Jean-Michel Cosséry, Non-Executive Chairman |
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Professor Lindy Durrant, CEO |
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Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker) |
+44 (0) 20 7710 7600 |
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Nicholas Moore/Samira Essebiyea/William Palmer-Brown (Healthcare Investment Banking) |
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Nick Adams/Nick Harland (Corporate Broking) |
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Panmure Gordon (UK) Limited (Joint Broker) |
+44 (0) 20 7886 2500 |
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Freddy Crossley/Emma Earl (Corporate Finance) |
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Rupert Dearden (Corporate Broking) |
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FTI Consulting |
+44 (0) 20 3727 1000 |
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Simon Conway/Rob Winder/Alex Davis |
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About Scancell
Scancell is a clinical stage biopharmaceutical company that is leveraging its proprietary research, built up over many years of studying the human adaptive immune system, to generate novel medicines to treat significant unmet needs in cancer and infectious disease. The Company is building a pipeline of innovative products by utilising its four technology platforms: Moditope® and ImmunoBody® for vaccines and GlyMab® and AvidiMab® for antibodies.
Adaptive immune responses include antibodies and T cells (CD4 and CD8), both of which can recognise damaged or infected cells. In order to destroy such cancerous or infected cells, Scancell uses either vaccines to induce immune responses or monoclonal antibodies (mAbs) to redirect immune cells or drugs. The Company's unique approach is that its innovative products target modifications of proteins and lipids. For the vaccines (Moditope® and ImmunoBody®) this includes citrullination and homocitrullination of proteins, whereas its mAb portfolio targets glycans or sugars that are added onto proteins and / or lipids (GlyMab®) or enhances the potency of antibodies and their ability to directly kill tumour cells (AvidiMab®).
For further information about Scancell, please visit: https://www.scancell.co.uk/