Oncimmune Holdings PLC ImmunoINSIGHTS Trading Update (2376K)
December 20 2022 - 1:00AM
UK Regulatory
TIDMONC
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
contact@oncimmune.co.uk
Singer Capital Markets (Nominated Adviser, Joint Broker)
Aubrey Powell, Harry Gooden, George Tzimas, James Fischer
+44 (0)20 7496 3000
WG Partners (Joint Broker)
David Wilson, Nigel Barnes, Erland Sternby
+44 (0)20 3705 9321
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(R), can detect
and help identify cancer on average four years earlier than
standard clinical diagnosis. Our lead diagnostic test, EarlyCDT(R)
Lung, targets a vast market estimated to grow to GBP3.8bn 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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