REG - Oncimmune Hldngs PLC - Drug Development Collaboration Agreement Signed

Oncimmune HoldingsAnnouncement

12/05/2020 07:02

RNS Number : 5618M
  
Oncimmune Holdings PLC
  
12 May 2020
  
 

12 May 2020 
 
 
Oncimmune Holdings plc
 
("Oncimmune" or the "Company")
 
Drug Development Collaboration Agreement Signed with Leading US Biopharmaceutical Company
 
 
Oncimmune Holdings plc (AIM: ONC.L), the leading global immunodiagnostics group, today announces it has signed an antigen targeting collaboration to support drug development with a leading US biopharmaceutical company which is developing novel therapies based on the human immune response.
 
Under this agreement, Oncimmune will be utilising its proprietary biomarker discovery engine, SeroTag®, to identify antigen targets from selected human immunoglobulin antibodies. SeroTag®, is a high-throughput, multiplex technology based on one of the largest in-house protein libraries, as well as a unique, ever-growing repository of disease data for indications including, autoimmune diseases and cancer. As a result, Oncimmune is helping to address a number of challenges currently hindering the successful development and broader application of both cancer immunotherapies and treatments for autoimmune diseases.
 
This agreement also provides Oncimmune with the rights to develop commercial companion diagnostic devices for each candidate that is validated, or benefit from a third party developing such devices in return for the receipt by Oncimmune of a series of milestone payments.
 
Adam M Hill, CEO of Oncimmune said: "In our half year results presentation on 12 February 2020, we announced the growing pipeline of potential commercial projects with major pharmaceutical companies, including signing our first pharmaceutical deal. This drug development collaboration agreement both validates last year's acquisition of Oncimmune Germany GmbH (previously called Protagen Diagnostics AG) and, importantly, moves Oncimmune's commercial proposition beyond early cancer detection into supporting the process of drug development and adoption. Antigen targeting has always been a focus of our three-year forward strategy, and I am now delighted to see our platform used in this endeavour."
 
For further information:
 
Oncimmune Holdings plc
Adam Hill, Chief Executive Officer
Matthew Hall, Chief Financial Officer
contact@oncimmune.co.uk
 
Zeus Capital Limited (Nominated Adviser and Joint Broker)
Andrew Jones, Daniel Harris, Victoria Ayton
+44 (0)20 3829 5000
 
finnCap (Joint Broker)
Geoff Nash, Matthew Radley, Tim Redfern
+44 (0)20 7220 0500
 
Bryan, Garnier & Co Limited (Joint Broker)
Phil Walker, Dominic Wilson
+44 (0)20 7332 2500
 
Media enquiries:
FTI Consulting
Ben Atwell, Michael Trace, Alex Davis
Oncimmune@fticonsulting.com
+44 (0)20 3727 1000
 
 
About Oncimmune
 
Beating cancer, one test at a time
 
The battle against cancer hinges on early detection and then the delivery of effective treatment. Oncimmune is working to revolutionise both the detection of cancer and its treatment by harnessing the sophisticated disease detecting capabilities of the immune system to find cancer in its early stages. Our range of diagnostic tests assist clinicians to identify the presence of cancer four years or more before standard clinical diagnosis, whilst our technology platform and sample biobanks are helping healthcare companies to develop new cancer treatments.
 
Oncimmune was founded in 2002 and launched its platform technology in 2009, followed by its first commercial tests, EarlyCDT Lung and EarlyCDT Liver. To date, over 158,000 tests have been performed for patients worldwide. EarlyCDT Lung was also used in what is believed to be the largest randomised controlled trial for the early detection of lung cancer using biomarkers, the successful National Health Service (NHS) ECLS trial of 12,209 high-risk smokers in Scotland which demonstrated EarlyCDT Lung reduced the incidence of patients with late-stage lung cancer or unclassified presentation at diagnosis, compared to standard clinical practice.
 
Oncimmune, headquartered at its laboratory facility in Nottingham, UK, has a discovery research centre in Dortmund, Germany and in London, UK and a partner representative office in Shanghai, China. Oncimmune joined the Alternative Investment Market (AIM) of the London Stock Exchange in May 2016 under the ticker ONC.L.
 
What is EarlyCDT Lung?
 
A blood test using a panel of seven immunogenic proteins for the testing of tumour-related antibodies specific to lung cancer.
 
For more information, visit www.oncimmune.com


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