Scancell issues new shares to Vulpes Life Sciences Fund
Scancell (AIM: SCLP), the developer of novel immunotherapies for the treatment of cancer, has raised £3.89m by the issue of new ordinary shares to Vulpes Life Sciences Fund.
Vulpes was founded in 2011 by Stephen Diggle, co-founder and former Managing Partner of Artradis Fund Management. Vulpes is designed to replicate a family office structure and enable outside co-investment in a range of strategies that seek to produce real capital appreciation and income by concentrating on a small number of compelling investment opportunities.
Co-founder Martin Diggle commented “Vulpes has been conducting scientific and commercial due diligence on Scancell for a considerable period of time. We have concluded the company's unique and innovative approach to fighting cancer is compelling and under-appreciated. At Vulpes we are always searching for overlooked companies that have the ability to make significant advances in medical science, with a view to supporting their development over the long term. We believe Scancell fulfil these criteria perfectly."
LGB is advising Scancell on the development of its investment proposition and its engagement with investors.