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| | Cancer treatment pioneer Scancell moves base to BioCity
CANCER therapy pioneer Scancell has moved to BioCity Nottingham after
securing £1.3million of private equity funding.
Founded in 1996 as a spin-out from Nottingham University, Scancell announced the new funding during its AGM (Tuesday April 27) at
BioCity, Nottingham, the bioscience innovation and technology centre.
The investment will allow the company's 15-strong team to speed up development of unique products that harness the immune system to
prevent or treat cancer from its new dedicated laboratories in the Pennyfoot Street complex.
The company, which has five antibody products in the pipeline, has already patent-protected its ImmunoBodyTM technology and secured
agreements with major biotechnology partners in Denmark and Korea.
Dr Michael Capaldi, CEO of Scancell Ltd commented: "We are very excited about the move to BioCity Nottingham. The facility gives us access to
state-of-the-art laboratories, equipment and office space and will significantly help our future growth plans."
BioCity's Chief Executive, Glenn Crocker added: "I am delighted to welcome Scancell to BioCity and the news of their new funding is great
for the East Midlands as a whole.
"In the past bioscience start ups in the region have had some difficulty attracting significant investment from venture capitalists
and business angels and the challenge for BioCity is to help attract funding into the great companies that are being developed here.
"Scancell's success in closing the deal is great news for the East Midlands because it shows that investors are waking up to the fact that
the region's bioscience industry has the intellectual property worthy of raising substantial venture capital.
"I am hopeful that this is yet another sign that the tough times for bioscience fund-raising are now behind us and this is the first of many good news stories in this area."
For more information about BioCity, visit www.biocity.co.uk
or
telephone 0115 912 4210.
-ends-
Issued by:
Sheila Ashton
Aura PR
Tel: 01636 636398
email: sheila@aurapr.co.uk
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