REG - Oncimmune Hldgs PLC - ImmunoINSIGHTS Trading Update

Oncimmune HoldingsAnnouncement

20/12/2022 07:00

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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 (mailto: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®, 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 (http://www.oncimmune.com)

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