Distribution agreement signed for Iran

RNS Number : 6285W

Oncimmune Holdings PLC

16 November 2017

 

                                                                                                                      16 November 2017

Oncimmune Holdings plc

("Oncimmune" or the "Company")

Distribution agreement signed for EarlyCDT®-Lung Kit in Iran

Agreement for screening and indeterminate pulmonary nodule applications with minimum sales commitment of approximately £1.1m

Nottingham, UK - 9 November 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 Iran with Tarvand Sina Tajhiz Co., an Iranian provider of test services and kits to the medical community.

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 £1.1 million over the term of the contract. First sales are expected to commence in the second half of 2018.

Geoffrey Hamilton-Fairley, CEO of Oncimmune, commented: "This distribution agreement is our seventh in the Asia Pacific region and now brings the minimum sales commitment in this region to approximately £7.6 million over the next five years. In the coming months we expect to sign a number of further agreements in the region, and beyond, 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]

Zeus Capital Limited (Nominated Advisor and Broker)

Giles Balleny, Hugh Kingsmill Moore

[phone]

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

 

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