Response to Press Speculation

Scancell Holdings plc (AIM: SCLP) ("Scancell" or the "Company"), the developer of active immunotherapies to treat cancer, notes recent press speculation and confirms it is in advanced discussions with Neuphoria Therapeutics Inc. ("Neuphoria") regarding a potential reverse merger transaction, whereby Scancell would acquire Neuphoria via an all-share transaction.

The potential reverse merger could facilitate a Nasdaq listing for Scancell, which the Company believes could increase its profile with US specialist investors. Concurrently, Scancell is in discussions regarding possible equity and debt financing to support a planned global Phase 3 registrational study for its lead asset, iSCIB1+.

The potential acquisition and associated financing remain subject to inter alia final terms and definitive documentation. There can be no certainty that firm agreement between Scancell and Neuphoria will be reached nor certainty over the quantum and terms of associated financing.

It is not anticipated that the potential transaction would constitute a reverse takeover for the purpose of the AIM Rules for Companies.

Further announcements will be made, as appropriate, in due course.

Scancell (LSE:SCLP; www.scancell.co.uk) is a clinical stage biotechnology company developing targeted off-the-shelf novel immunotherapies, to generate safe and long-lasting tumour-specific immunity for a cancer-free future. iSCIB1+, the lead product from their DNA ImmunoBody® platform has demonstrated safe, durable and clinically meaningful benefit as a monotherapy as well as additional benefit when combined with checkpoint therapies in a Phase 2 trial in melanoma. Modi-1, the lead peptide immunotherapy from their Moditope® platform, is being investigated in a Phase 2 study in a broad range of solid tumours. In addition, Scancell's wholly owned subsidiary, GlyMab Therapeutics Ltd., has been established with the intention to hold and develop an exciting early-stage pipeline of high affinity GlyMab® antibodies targeting tumour specific glycans, two of which already have been licensed and are being developed by Genmab A/S, an international biotechnology company and global leader in the antibody therapeutics space.

Neuphoria is a Nasdaq listed biotechnology company dedicated to pioneering breakthrough therapies that address the complex needs of individuals affected by neuropsychiatric disorders. By focusing on novel approaches and advancing scientific understanding, its aim is to deliver medicines that offer lasting relief and hope for a brighter, healthier future.