Oncimmune Holdings PLC New Distribution Agreements for EarlyCDT®-Lung Kit
May 24 2018 - 1:02AM
RNS Non-Regulatory
TIDMONC
Oncimmune Holdings PLC
24 May 2018
Oncimmune Holdings plc
("Oncimmune" or the "Company")
New Distribution Agreements Signed for EarlyCDT(R)-Lung Kit
Agreements signed in Brazil and Colombia, and Moldova, totaling
GBP3,200,000 over five years
Nottingham, UK - 24 May 2018: Oncimmune Holdings plc (AIM:
ONC.L), a leading early cancer detection company developing and
commercialising its proprietary EarlyCDT(R) liquid biopsy platform
technology, today announces it has signed two exclusive agreements
for distribution of its EarlyCDT(R)-Lung test in Brazil and
Colombia with Valentech International LLC, as well as in Moldova
with GBG-MLD SRL.
The agreements allow for the sale of the CE marked
EarlyCDT(R)-Lung kit as a screening test and for the risk
assessment of indeterminate pulmonary nodules. The agreement in
Brazil and Colombia is for an initial term of five years and
includes minimum sales commitments of GBP3,000,000 over the term of
the contract, with first sales expected in Q1 2019. The agreement
in Moldova is for an initial term of three years and includes
minimum sales commitments of GBP200,000 over the term of the
contract with first sales expected in Q3 2018.
Brazil has a population of 207 million which includes 22 million
smokers. EarlyCDT-Lung will provide a screening tool for early
detection of lung cancer to aid reducing the nearly 24,000 deaths
per year. Columbia is relatively a smaller market with a lung
cancer incidence of 6.2% amongst smokers. It is expected that
EarlyCDT-Lung will be well received by physicians in both
markets.
Moldova is a relatively small market, but with nearly 1 million
smokers and a high incidence of lung cancer there is a significant
need to improve the early diagnosis rate and reduce the burden of
late stage lung cancer presentation in the country. Moldova will be
an early adopter of EarlyCDT-Lung and initial discussions have
already been held with regards to this leading to a screening pilot
in the capital Chisinau.
Geoffrey Hamilton-Fairley, CEO of Oncimmune, commented: "We are
delighted to sign our first distribution agreement in the South
America region with Valentech. The agreement in Moldova is our
sixth in Europe and now brings our total minimum committed revenues
of GBP2.2 million over the next three years. Our total minimum
global minimum committed revenues including Europe, Asia Pac
including and South America, now total of GBP26.8 million over the
next six years.
"With our R&D programme delivering new tests, including the
recently completed EarlyCDT(R)-Liver test for hepatocellular
carcinoma, and commercial opportunities in personalised medicine
and companion diagnostics, we are well positioned to deliver
further distribution deals across the globe in line with our
strategy to generate revenues from our platform technology through
multiple products, regions and partners."
For further information:
Oncimmune Holdings plc
Geoffrey Hamilton-Fairley, Chief Executive Officer
contact@oncimmune.co.uk
Media enquiries:
Consilium Strategic Communications
Chris Gardner, Matthew Neal, Lindsey Neville
Oncimmune@consilium-comms.com
+44 (0)20 3709 5708
About Oncimmune
Oncimmune is a leading early cancer detection company developing
and commercialising its proprietary EarlyCDT(R) 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(R)-Lung, was launched
in 2012, as a CLIA test in the USA and since then over 155,000
commercial tests have been sold. EarlyCDT(R)-Lung is available
through physicians in the US and also privately in the UK and other
regions. EarlyCDT(R)-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. The Company's second product,
EarlyCDT(R)-Liver, was launched in May 2018 as a CLIA test in the
US.
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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END
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