Scancell Secures $25 Million Loan Facility for iSCIB1+ Development

OXFORD, United Kingdom and BURLINGTON, Mass., Sept. 24, 2026 /CourierPR/ -- Scancell Holdings plc, a late-stage clinical immuno-oncology company, has secured a significant financing package to support the development of its lead product, iSCIB1+. The company has entered into a loan agreement with BlackRock-managed funds, providing a loan facility of up to US$25 million (the “Loan Facility”).

The Loan Facility is structured in four tranches, with the first three tranches convertible into ordinary shares at the lender's option, totaling up to US$5 million. Scancell intends to draw down US$7 million under the Loan Facility following shareholder approval at the Extraordinary General Meeting (EGM). Further tranches totalling US$8 million are expected to be available following the completion of the US listing transactions and the opening of the first clinical site for the Phase 3 study for iSCIB1+.

The remaining tranche may be drawn until December 31, 2027, subject to a minimum equity fundraising threshold. The loan facility is repayable, following an 18-month interest-only period, in 24 equal monthly instalments of principal and interest, or in 18 equal monthly instalments of principal and interest commencing after 24 months if the company has raised cumulative equity funding of at least US$100 million (inclusive of the proceeds of the UK Placing and the Retail Offer).

Interest on the term loan facilities accrues at 10.50% per annum from the date of advance, while interest on the convertible facilities accrues at a rate of 10.95% per annum and is capitalised and added to the principal amount of the relevant tranche on each interest payment date. The lender may convert all or part of the outstanding principal of the convertible facilities (including capitalised interest) into ordinary shares at a 30% premium to the equity fundraising price announced on July 23, 2026 (subject to adjustment for the share consolidation).

iSCIB1+ is a DNA ImmunoBody® in development for the treatment of melanoma. Administered by needle-free intramuscular injection, iSCIB1+ encodes an antibody targeting the melanoma-associated antigens gp100 and TRP-2, priming high-avidity T cells to generate a robust and durable anti-tumor response. In the Phase 2 SCOPE trial in first-line advanced melanoma, iSCIB1+ in combination with ipilimumab and nivolumab demonstrated a progression-free survival (PFS) of 77% at 22 months in the target HLA population, with no increase in checkpoint inhibitor-related toxicities. iSCIB1+ has demonstrated a favorable safety profile and clinically meaningful activity as a monotherapy in Phase 1 and in combination with checkpoint inhibitors in the Phase 2 SCOPE trial in advanced melanoma.

The registrational Phase 3 trial of iSCIB1+ in patients with advanced melanoma has received an IND clearance from the FDA and CTA from the UK MHRA and is expected to begin in the second half of 2026. Initial progression-free survival data, which could support accelerated approval under the trial design, is targeted for the second half of 2028.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR) as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018. The person responsible for arranging for the release of this announcement on behalf of Scancell is Phillip L'Huillier, Chief Executive Officer.