Agreement for Portugal and Spain

RNS Number : 2173V

Oncimmune Holdings PLC

05 April 2019

 

5 April 2019

Oncimmune Holdings plc

("Oncimmune" or the "Company")

Oncimmune Announces EarlyCDT^®-Lung Kit Distribution Agreement for Portugal and Extends Agreement for Spain

Oncimmune Holdings plc (AIM: ONC.L), a leader in the development, manufacture and commercialisation of personalised immunodiagnostics for the screening, detection and care of cancer, today announces that it has signed an exclusive agreement for the distribution of its EarlyCDT-Lung test kit in Portugal with Sabartech S.L. ("Sabartech"), its existing distributor in Spain. The agreement includes a minimum sales commitment of £700,000 over 5 years.

Every year in Portugal approximately 5,300 new cases are diagnosed and approximately 4,700 deaths occur from lung cancer. Lung cancer is the largest cause of cancer-related deaths in Portugal.

Oncimmune has also extended Sabartech's agreement in Spain from three to five years, in light of the excellent progress made including the recently secured agreement to sell EarlyCDT-Lung as a screening test for the early detection of lung cancer through the hospitals and clinics of the Quirónsalud group ("Quirónsalud"). The extension adds a further £1.8 million of minimum sales commitments over years 4 and 5.

Dr Adam M Hill, CEO of Oncimmune commented: "Portugal and Spain are important European markets and Sabartech has made good progress so far including selling EarlyCDT-Lung for screening through Quirónsalud, the largest private hospital network in Spain. Extending our relationship to include Portugal was a natural progression and marks another step in the commercialisation of EarlyCDT-Lung."

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For further information:

Oncimmune Holdings plc

Adam Hill, Chief Executive Officer

[e-mail]

Zeus Capital Limited (Nominated Adviser and Joint Broker)

Andrew Jones, Mike Seabrook

[phone]

Bryan, Garnier & Co Limited (Joint Broker)

Phil Walker, Dominic Wilson

[phone]

Media enquiries:

Consilium Strategic Communications

Chris Gardner, Matthew Neal, Lindsey Neville

[e-mail]

[phone]

About Oncimmune

Beating cancer, one test at a time

Oncimmune is a leader in the development, manufacture and commercialisation of cancer specific immunodiagnostics for the screening, detection and care of cancer. Oncimmune also develops precision medicine and patient stratification tools for leading pharmaceutical multinationals in both immuno-oncology and autoimmune disease. Oncimmune is working to change how cancer is diagnosed and treated. Its patented technology detects evidence of the body's natural response to cancer, enabling detection four years or more before standard clinical diagnosis. Oncimmune's tests facilitate clinical decision-making and are complementary to diagnostic technologies, making them valuable additions to established and new care pathways. Oncimmune partners with leading developers and distributors to make our technology available globally. 

Oncimmune was founded in 2002 and launched its platform technology in 2009, followed by its first commercial tests, EarlyCDT-Lung and EarlyCDT-Liver. To date, over 155,000 tests have been performed for patients worldwide and EarlyCDT-Lung is being used in the largest-ever randomised trial for the early detection of lung cancer using biomarkers, the National Health Service (NHS) ECLS study of 12,210 high-risk smokers in Scotland. Oncimmune, headquartered at its laboratory facility in Nottingham, UK, has a discovery research centre in Dortmund, Germany and a CLIA lab in Kansas, US as well as offices in London, UK and Shanghai, China. Oncimmune joined the Alternative Investment Market (AIM) of the London Stock Exchange in May 2016 under the ticker ONC.L.

For more information, visit www.oncimmune.com

 

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