Scancell inks AvidiMab agreement with Chinese biotech company

Scancell Holdings on Monday signed a collaboration and non-exclusive research agreement with an unnamed Chinese biotechnology firm.

The immunotherapies developer said the duo will collaborate to assess monoclonal antibodies (mAbs) targeting tumour-associated glycans (TaGs) that have been enhanced with its proprietary AvidiMab technology.

The AIM traded company's new Far Eastern partner will conduct preclinical studies to evaluate Scancell's anti-TaG mAbs, including those enhanced with AvidiMab, for the treatment of cancer.

This is the second collaboration agreement that has been signed in relation to AvidiMab, with Scancell having announced a deal with a "leading antibody technology company" back in September.

Chief executive Cliff Holloway said: "We are pleased to announce this second collaboration agreement for the AvidiMab platform. As previously stated, we believe our novel AvidiMab platform and tumour associated glycan antibodies have broad partnering potential and this has been further demonstrated by today's agreement, the second in four months.

"This is our first collaboration in China, and we look forward to updating the market on further progress with this platform in due course."

Scancell Holdings shares were up by 6.12% at 5.20p at 1321 GMT.