REG - Oncimmune Hldgs PLC - Intention to Appoint Administrators and Suspension

Oncimmune HoldingsAnnouncement

17/03/2025 07:15

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RNS Number : 8634A  Oncimmune Holdings PLC  17 March 2025

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014 ("MAR") AND THE RETAINED UK LAW VERSION OF MAR PURSUANT TO
THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 (SI 2019/310) ("UK
MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION
SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Oncimmune Holdings plc

 

("Oncimmune" or the "Company", together with its subsidiary "the Group")

 

Intention to Appoint Administrators and Suspension of Trading

 

Oncimmune Holdings plc (AIM: ONC.L) today announces, further to the
announcement made on 24 February 2025, that despite a comprehensive sale
process and positive interest in the business it has unfortunately not been
possible to secure a buyer for the Company's trading subsidiary, Oncimmune
Germany GmbH. It has also not been possible to raise the additional capital
required to meet the Company's short term funding needs.

In light of this, and after extensive consideration of the Company's current
financial situation as well as the resulting creditor position, the Board has
regrettably concluded that there are no further options available to the
Company to extend its cash runway and that the Group should therefore be
placed into administration in order to preserve the value of the business for
creditors.  Accordingly, a notice will be filed with the Court today
notifying the directors' intention to appoint Managing Directors from Alvarez
& Marsal Europe LLP as administrators of the Company as soon as reasonably
practicable.

Consequently, the Company has requested a suspension in the trading of its
ordinary shares on AIM, which will become effective from 7.30am on 17 March
2025.

Further announcements will be made in due course.

 

 

For further information:

 

Contact Alvarez & Marsal : projectCotton@alvarezandmarsal.com

contact@oncimmune.com (mailto: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 (Corporate
Broking)
+44 (0) 20 7220 0500

 

Zeus (Joint Broker)

Dominic
King
+44 (0)20 3829 5000

 

 

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 (http://www.oncimmune.com)

 

 

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