ImmunoINSIGHTS Trading Update

RNS Number : 2376K

Oncimmune Holdings PLC

20 December 2022

 

20 December 2022

Oncimmune Holdings plc

("Oncimmune" or the "Company")

ImmunoINSIGHTS Global multi-year MSA Signed with Top 10 Pharmaceutical Group

Further ImmunoINSIGHTS Commercial Contracts Signed

Oncimmune Holdings plc (AIM: ONC.L), the leading global immunodiagnostics group, is pleased to announce the signing of a number of new ImmunoINSIGHTS contracts.

Subsequent to the announcement made on 14 December 2022, in which the Company stated it had signed further ImmunoINSIGHTS contracts with an existing global pharmaceutical client, Oncimmune now confirms that it has signed a Master Services Agreement ("MSA") with a new top 10 pharmaceutical group for the provision of ImmunoINSIGHTS clinical laboratory services. The MSA is expected to support multiple autoantibody profiling projects which are currently in discussion, focusing on autoimmune, cardiovascular and prenatal diseases. This multi-year MSA has been awarded following an assessment by the client of Oncimmune's ImmunoINSIGHTS autoantibody profiling platform in autoimmune disease patient samples.

The Company has also signed a new contract with a leading UK-based biotech company to collaborate on the discovery of autoantibody biomarkers for the detection of sepsis. All intellectual property rights ("IP") developed during the collaboration shall be owned exclusively by Oncimmune. On completion of this initial contract, the biotech company shall have the option to extend the collaboration to a verification study on commercial terms with Oncimmune and to take-up an option to enter into a 20-year agreement to licence from the Company the IP generated from the collaboration in consideration for an upfront payment and an ongoing royalty payment.

The Company has also signed a new commercial contract with a leading US research institution to analyse samples and generate autoantibody profiles in serum in patients with confirmed Glioblastoma Multiforme.

Whilst the signing of these new contracts does not change the Company's current revenue guidance for the 12 months to 31 August 2023, as outlined in the announcement made on 7 December 2022, these signed contracts, together with other recently announced contracts, and those which are in contract finalisation, give the Board continued confidence in the outlook for the business.

For further information:

Oncimmune Holdings plc

Dr Adam M Hill, Chief Executive Officer

Matthew Hall, Chief Financial Officer

[e-mail]

Singer Capital Markets (Nominated Adviser, Joint Broker)

Aubrey Powell, Harry Gooden, George Tzimas, James Fischer

[phone]

WG Partners (Joint Broker)

David Wilson, Nigel Barnes, Erland Sternby

[phone]

About Oncimmune

ImmunoINSIGHTS Service Business

Oncimmune is a leading immunodiagnostics developer, primarily focused on the growing fields of immuno-oncology, autoimmune disease and infectious diseases. The ImmunoINSIGHTS service business leverages Oncimmune's technology platform and methodologies across multiple diseases, to offer life-science organizations actionable insights for therapies across the development and product lifecycle. Our core immune-profiling technology is underpinned by our library of over eight thousand immunogenic proteins, one of the largest of its kind. This helps identify trial participants and patients into clinically relevant subgroups, enabling development of targeted and more effective treatments.

Oncimmune's ImmunoINSIGHTS service business is based at the Company's discovery research centre in Dortmund, Germany. The business platform enables life science organizations to optimize drug development and delivery, leading to more effectively targeted and safer treatments for patients.

The ImmunoINSIGHTS development team is based in the US and Europe and Oncimmune is seeking to replicate the Dortmund facility in the US in the medium term.

EarlyCDT Product Business

Oncimmune's immunodiagnostic technology, EarlyCDT®, can detect and help identify cancer on average four years earlier than standard clinical diagnosis. Our lead diagnostic test, EarlyCDT® Lung, targets a vast market estimated to grow to £3.8bn by 2024. With over 200,000 tests already performed for patients worldwide and its use being supported by peer reviewed data in over 12,000 patients, we are poised to become an integral component of future lung cancer detection programs, globally.

Oncimmune's diagnostic products business is located at its laboratory facility in Nottingham, UK. 

For more information, visit  www.oncimmune.com

 

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