Scancell to merge into Neuphoria and seek $89 million equity as AstraZeneca's breast cancer drug gains EU approval

Scancell announced it will merge into Neuphoria Therapeutics, taking over Neuphoria's Nasdaq listing ($NEUP) and planning to change the ticker to SCLT. The combined entity aims to raise up to $89 million in equity.

The move follows Merck's decision to halt a trial that involved the two companies, prompting the restructuring.

Separately, AstraZeneca received European Union approval for its breast cancer therapy, allowing the drug to be marketed across EU member states.

Both the merger and the drug approval could create new growth opportunities and attract investor interest.