Scancell confirms advanced talks over reverse merger with Neuphoria

Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF, FRA:SCP), the developer of immunotherapies designed to dainty cancer, has confirmed it is successful precocious discussions implicit a reverse merger with US-listed Neuphoria Therapeutics.

Responding to property speculation, the AIM-quoted institution confirmed it is negotiating to get Neuphoria done an all-share transaction.

A reverse merger, successful which a backstage oregon smaller institution gains a banal marketplace listing by combining with an already-listed business, could springiness Scancell entree to Nasdaq.

The institution believes specified a listing would rise its illustration among US specializer investors.

Scancell is besides successful abstracted talks implicit imaginable equity and indebtedness financing.

That backing would enactment a planned planetary signifier III registrational study, the last signifier of investigating earlier regulatory approval, for its pb cause campaigner iSCIB1+.

The institution cautioned that some the acquisition and the financing remained taxable to last presumption and definitive documentation.

It added that determination could beryllium nary certainty that an statement with Neuphoria would beryllium reached, nor implicit the size and presumption of immoderate associated financing.