Nottingham, UK – 25th May 2004 – Scancell Ltd, the Nottingham, UK based cancer therapeutics company, has announced that it has secured an agreement with Cancer Research Technology Limited (CRT) under which Scancell has been granted an exclusive worldwide licence to develop and commercialise two cancer vaccines against Tie-2 and CD55 protein targets for the treatment of solid tumours.

Tie-2 and CD55 offer highly promising approaches to the development of novel vaccines using Scancell's ImmunoBody™ technology. Tie-2 is over-expressed on tumour vasculature. Therapeutic vaccines targeting blood vessels can cause vascular collapse and starvation of large tumour areas. CD55 is over-expressed by tumours to protect them from immune attack. A therapeutic vaccine targeting CD55 may therefore destroy tumour cells over-expressing CD55 leaving any remaining cells susceptible to immune clearance through endogenous complement lysis. A combination of both vaccines may lead to dramatic tumour regression by harnessing the body's immune system to 'reject' the tumour.

Commenting on the agreement, Professor Lindy Durrant, CSO of Scancell, said: "We are very pleased that CRT has selected Scancell to develop and commercialise these extremely promising products. This agreement offers Scancell the opportunity to develop two new ImmunoBody™ vaccines for the treatment of solid tumours. The collaboration with CRT is a further example of how we intend to accelerate the development of the ImmunoBody™ programme through partnerships over the next few years."

Dr. Keith Blundy, Chief Operating Officer at CRT, said: "Scancell is well positioned to develop the CD55 and Tie-2 vaccines and we anticipate that this deal will enable cancer patients to benefit from this exciting technology in the future."

Scancell's ImmunoBody® approach involves engineering a human antibody to express epitopes from tumour antigens over-expressed by commercially important solid tumours - in this case Tie-2 and CD55. ImmunoBody™ vaccines efficiently target the dendritic cells in vivo to stimulate effective immunity. They offer the potential to develop more effective vaccines against both cancer and infectious diseases.

Nottingham, UK – 27th April 2004 – Scancell Ltd, the Nottingham, UK based cancer therapeutics company, announced at its annual general meeting (AGM) today the successful completion of a further round of private equity funding totalling ~£1.3 million. Bioscience VCT, and Oxford Technology 3 VCT, an existing investor, acted as co-lead investors for the round. Other new investors in this round included Oxford Capital Partners and Cherwell Capital. Several of Scancell’s existing investors also made additional investments in the company.

The new funding will allow Scancell to accelerate the development of its leading products and to move to dedicated laboratories at the new BioCity Healthcare and Bioscience Innovation Centre in Nottingham, UK.

Commenting on the funding Dr Mike Capaldi, Scancell’s new CEO said:

“Scancell is very pleased to have succeeded in securing this investment in the current difficult market conditions. The company has already demonstrated its ability to develop new products and close commercial deals. The new investment will allow the company to bring its products closer to the clinic and to further develop its ImmunoBody® programme. We are also very excited about the move to BioCity, which will significantly help our growth plans.”

Dr Paul Nicholson, the Chairman of BioScience VCT, said:

“We are pleased to have made an investment in Scancell. The company has built a strong team to lead the development of its antibodies and its platform technologies and we look forward to supporting the company’s progress.”

Lucius Cary, Director of Oxford Technology 3 VCT, and the Managing Director of Seed Capital Ltd, the Investment Adviser to the Oxford Technology 3 VCT added:

“We are very pleased to have invested further in Scancell and continue to support the company and the research of its founder, Professor Lindy Durrant. This is a company that has developed a diverse pipeline of anti-cancer targets and platform technologies and assembled an outstanding team to deliver these to the clinic.”

Nottingham, UK – 21st April 2004 – Scancell Ltd, the pioneering Nottingham-based therapeutics company that is harnessing the power of the immune system to fight cancer, has announced the appointment of Dr Michael Capaldi as Chief Executive Officer. Dr Capaldi brings to Scancell extensive commercial and management experience in the pharmaceutical and life sciences industries, together with a strong scientific background.

Commenting on his new position, Dr Capaldi said:

“Scancell is at an exciting stage of development and I look forward to contributing to the future success of the Company. I am convinced that Scancell can make a major contribution towards developing new cancer therapies that harness the power of the immune system.”

Dr Capaldi was previously CEO of Synaptica Ltd where he served from 2000. He has a broad working knowledge of the biopharmaceutical industry with a strong commercial bias, combined with a solid understanding of pharmaceutical discovery and development. He has first hand experience of raising capital from private and public markets to fund early stage biotechnology companies including an IPO of Core Group as a full listing on the London Stock Exchange (LSE) in 1997. He has over 20 years experience in the pharmaceutical and life sciences industry within the UK, Europe and the USA, including over 17 years commercial and general management experience gained with SmithKline Beecham plc, Amersham plc, Core Group plc, Oxford Asymmetry plc and Synaptica Ltd. Prior to this he gained five years multidisciplinary research experience in academic and applied pharmaceutical research and management with Ciba-Geigy.

Michael holds a PhD in Medical Biophysics from the University of Manchester, and has experience of both academic and applied pharmaceutical research. Welcoming Dr Capaldi to the Company, Chairman Nigel Evans said: “Michael brings significant management, commercial and fund raising experience to Scancell, which will be invaluable as the Company commercialises its therapeutic antibodies and it’s ImmunoBody® technology. Monoclonal antibody technology promises considerable hope for the treatment and prevention of cancer.”

Nottingham and London, UK – 12th December 2003 – Scancell Ltd., Onyvax Limited and Cancer Research Technology Limited (CRT), today announced an agreement enabling Scancell to develop and commercialise its proprietary ImmunoBody cancer vaccine technology. Under the terms of the agreement Onyvax, one of the world's leading cancer vaccine companies, will also have a non-exclusive licence to develop the technology.

The ImmunoBody Approach

Cancer vaccines represent a highly attractive approach for cancer therapy as, in contrast to current treatments such as chemotherapy and radiotherapy, small non-toxic doses of a vaccine may be administered to a patient to stimulate an immune response. It is generally accepted that to be effective against cancer, a vaccine needs to target dendritic cells to stimulate both parts of the cellular immune system, the helper cell system (known as the CD4-mediated response) which stimulates inflammation at the tumour site, and the cytotoxic T-lymphocyte or CTL response (known as the CD8-mediated response) in which cells of the immune system are primed to recognise and kill specific cells.

A limitation of many cancer vaccines currently in development is that they cannot specifically target dendritic cells in vivo. Several groups have demonstrated successful vaccination by growing dendritic cells ex vivo, pulsing them with tumour antigens and re-infusing them. However, this procedure is patient specific, time consuming and expensive.

Scancell's ImmunoBody approach involves engineering a human antibody to express helper cell and CTL epitopes from tumour antigens over-expressed by commercially important solid tumours. These ImmunoBodies efficiently target dendritic cells in vivo via the CD64 receptor to stimulate effective immunity. They offer the potential to develop more effective vaccines against both cancer and infectious diseases.

Commenting on the agreement, Professor Lindy Durrant, CEO of Scancell, said: "We are very pleased to have reached agreement with CRT and Onyvax on the ImmunoBody programme. This platform offers Scancell the opportunity to develop new cancer vaccines on its own behalf and in partnership with others. The collaboration with Onyvax is the first exciting example of how we intend to accelerate the development of the ImmunoBody programme through partnerships over the next few years."

Dr Anthony Walker, CEO of Onyvax, commented: "Scancell's ImmunoBody technology is potentially a breakthrough in cancer vaccine design, offering the opportunity to develop more effective vaccines against this disease."

Dr Keith Blundy, Director of Business Management at CRT, said: "We are very pleased that Scancell and Onyvax will be undertaking further development of the ImmunoBody technology and hope that the programme will lead to new therapeutic options for cancer patients."