Distribution Agreement in Poland

RNS Number : 8772T

Oncimmune Holdings PLC

18 October 2017

 

                                                                                                                       18 October 2017

Oncimmune Holdings plc

("Oncimmune" or the "Company")

Distribution Agreement Signed for EarlyCDT®-Lung Kit for Poland

Agreement for screening and indeterminate pulmonary nodule applications with minimum sales commitment of approximately £900,000

Nottingham, UK - 18 October 2017: Oncimmune Holdings plc (AIM: ONC.L), a leading early cancer detection company developing and commercialising its proprietary EarlyCDT® platform technology, today announces it has signed an exclusive agreement for distribution of its EarlyCDT®-Lung test in Poland with SmartGene, a Polish In Vitro Diagnostic (IVD) distribution company with almost 20 years of experience in laboratory and molecular diagnostics & life sciences.

The agreement allows for the sale of the CE marked EarlyCDT®-Lung kit as a screening test and for the risk assessment of indeterminate pulmonary nodules. The agreement is for an initial term of three years and includes minimum sales commitments of £900,000 over the term of the contract. First sales are expected to commence in early 2018.

Poland is a key European market for EarlyCDT®-Lung, as the country has the highest incidence of lung cancer on the European continent with over 10 million smokers. There are also over one million CT scans performed each year, creating a significant need for risk assessment of indeterminate pulmonary nodules.

Geoffrey Hamilton-Fairley, CEO of Oncimmune, commented: "This distribution agreement, is our fourth in Europe and brings the total minimum sales commitments to £1.4m. We anticipate the signing of a number of further agreements in Europe, and beyond, in the coming months as we continue to deliver on our strategy of generating revenues from our platform technology through multiple products, regions and partners."

For further information:

Oncimmune Holdings plc

Geoffrey Hamilton-Fairley, Chief Executive Officer

[e-mail]

Media enquiries:

Consilium Strategic Communications

Chris Gardner, Matthew Neal, Lindsey Neville

[e-mail]

[phone]

About Oncimmune

Oncimmune is a leading early cancer detection company developing and commercialising its proprietary EarlyCDT® platform technology. Oncimmune has pioneered the development of autoantibody tests that can detect cancer up to four years earlier than other methods and can be applied to a very wide range of solid tumour types. The Company's first product, EarlyCDT®-Lung, was launched in 2012, as a CLIA test in the USA and since then over 150,000 commercial tests have been sold. EarlyCDT®-Lung is available through physicians in the US and also privately in the UK and other regions. 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) Scotland ECLS study of 12,210 high-risk smokers. EarlyCDT® tests for liver and ovarian cancer are in development.

Oncimmune, headquartered in Nottingham, United Kingdom with testing facilities in the US, joined AIM in May 2016 under the ticker ONC.L. For more information, visit www.oncimmune.com

About SmartGene

SmartGene is a young Polish IVD distribution company focused on new and innovative diagnostic solutions that help clinicians make the right treatment decisions. Our main field of interest is early diagnosis in oncology as well as advances in molecular pathology. Our organization brings almost 20 years of experience in laboratory and molecular diagnostics / life science on Polish and European markets. SmartGene's goal is to provide our Customers with the highest quality of products for confidence in results interpretation, as well as professional advice and support.

 

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