Oncimmune Holdings
plc
("Oncimmune" or the "Company")
Trading
Update
Oncimmune Holdings plc (AIM:
ONC.L), a leading autoantibody profiling company providing research
services to the pharmaceutical and biotechnology industry to enable
the delivery of precision medicine, is pleased to provide a trading
update following strong commercial progress
since its last update on 21 May 2024:
·
As announced on 9 August 2024, following a
successful pilot carried out for a major pharmaceutical company,
Oncimmune has entered into an agreement for a major new project
with that pharmaceutical company, with a contract value of at least
US$1.5M, which will utilise a technological breakthrough achieved
by Oncimmune's scientific team.
·
As further announced on 2 September 2024, another
major pharmaceutical company, for whom Oncimmune is already a
preferred supplier, has entered into a new $0.7M project, focused
on a rare immune related disease, with the initial samples to be
analysed already being held by Oncimmune.
·
In addition to the significant contracts described
above, Oncimmune has also entered into contracts for three other
new projects since its last update. Two contracts are with a US
biotech to analyse multi-omic data from its clinical trials. This
is a new area for Oncimmune and a testament to its strong data
analytics capability. The third contract is through a
contract research organisation with whom Oncimmune has a long
standing relationship, with the project providing IgA autoantibody
analysis for a European biotech as a follow on to previous work
carried out for that customer.
·
Oncimmune has also entered into a framework
agreement for future collaboration, including cross-selling, with a
major UK R&D accelerator. It is expected that this
relationship will be leveraged during FY2025 and beyond.
Year ended 31 August 2024 (FY24) and outlook
As previously announced, Oncimmune
expects to deliver approximately £3M of revenue in FY24 and with
recently contracts underpinning activity in FY2025, expects to
deliver substantial revenue growth in FY2025 and achieve
profitability in that financial year.
Martin Gouldstone, CEO of Oncimmune said:
"This has been a very busy period for Oncimmune commercially
and a real indication of the commercial traction we have been
seeing in the market. These new wins help to set us up well for
FY2025 following on from the solid base we have built in FY2024
giving us confidence in our ability to be a profitable business in
FY2025."
Alistair MacDonald, Chairman of Oncimmune
said:
"Martin has been with the team a little over a year now and we
have seen a step change in the commercial focus of the Oncimmune
team in that time. We are pleased to see the increased
traction with customers starting to convert into better commercial
results and a broadening pipeline as we enter a new financial
year."
For
further information:
Oncimmune Holdings plc
contact@oncimmune.com
Cavendish Capital Markets Limited (Nominated Adviser and Joint
Broker)
Geoff Nash, Callum Davidson, Trisyia
Jamaludin (Corporate Finance)
Nigel Birks (Life Science Specialist
Sales)
Ondraya Swanson (ECM)
+44 (0) 20 7220 0500
Zeus (Joint Broker)
Dominic King, Dan Bate
+44 (0)20 3829 5000
+44 (0)20 3727 1000
About Oncimmune
Oncimmune is a precision medicine
company, specialising in analysing immune interactions through the
autoantibody profile. Taking a platform approach to generating
insights, Oncimmune is partnering with global pharmaceutical and
biotech companies, as well as contract research organisations
(CROs) to discover novel biomarkers for the development of more
targeted and effective therapies across many immune-mediated
diseases. Our mission at Oncimmune is to enable precision medicine.
We help our partners to discover novel biomarkers, drug targets and
predict treatment efficacy through the application of our platform.
We are able to do this by deploying our world class scientific team
and our cutting-edge technology platform, built on years of
experience in the field. Our aim is to make this an essential tool
in drug discovery and development.
Oncimmune is headquartered in the UK,
with its discovery and development facility based in Dortmund,
Germany and a business development team based in the US and
Europe.
For more information,
visit www.oncimmune.com
