REG - Oncimmune Hldgs PLC - Progress against Strategy

Oncimmune HoldingsAnnouncement

30/11/2023 07:15

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RNS Number : 1326V  Oncimmune Holdings PLC  30 November 2023

30 NOVEMBER 2023

 

Oncimmune Holdings plc

 

("Oncimmune" or the "Company")

 

Progress against strategy

 

Oncimmune Holdings plc (AIM: ONC.L), a leading autoantibody profiling company
to the pharmaceutical and biotechnology industry enabling precision medicine,
is pleased to provide an update on the progress it is making with its
strategy.

 

Progress against strategy

 

On 12 October 2023 Oncimmune's new executive leadership team set out its
vision and strategic priorities for FY2024 and beyond.  As Q1 FY2024 now
draws to a close, Oncimmune can provide the following update on progress
against that strategy:

 

·    Contracts have been signed for four new projects, with additional
contracts having been approved by customers and are expected to be signed in
Q2 FY2024.

 

·    Three of the contracts are with major pharmaceutical companies who
were existing customers, demonstrating Oncimmune's ability to consistently
deliver high quality outputs and win repeat business from key accounts.  Two
of the major pharmaceutical companies have entered into long term master
services agreements with Oncimmune, with the third indicating that it would
like to discuss entering into a master services agreement.

 

·    The fourth contract is with a new customer focused on high throughput
drug discovery, reflecting Oncimmune's ability to expand the scientific
application of its technology platform in line with its strategy.

 

·    Certain of the new contracts signed cover projects in adverse event
prognostics and expanding the application of Oncimmune's ImmunoINSIGHTS
platform, similarly in line with the strategic objectives previous set out.

 

·    Discussions have begun with 14 Contract Research Organisations
(CROs), including translational medicine (discovery and pre-clinical) and
clinical studies focused CROs.  Oncimmune intends to accelerate the
generation of new commercial contracts by offering its highly specialised
services through CROs, enabling it to reach through to a wider customer base
beyond its own direct commercial infrastructure.

 

·    The commercial team has continued to grow as planned, now consisting
of three experienced professionals in the US and a new Senior Director joining
in December 2023 to lead commercial efforts in Europe.  Further expansion of
the commercial team in Europe is expected in Q2/Q3 FY2024 in line with budget.

 

Martin Gouldstone, Oncimmune's Chief Executive Officer, said:

 

"I am encouraged to see the commercial traction already being made on
delivering our strategy, including our ability to expand the application of
our ImmunoINSIGHTS platform into drug discovery as well as clinical trials.
I have recently spent time discussing our strategy with some of our key
stakeholders and have been pleased to see how well it has been received, also
allowing us to recruit top talent to further accelerate our ability to deliver
on it"."

 

Board changes

 

As announced on 12 October 2023, Dr Annalisa Jenkins has decided to step down
from the Board and a new Senior Independent Non-Executive Director, Sally
Waterman, has been appointed.  The transition of Annalisa's responsibilities
has now been completed and she has therefore ceased to be a director with
immediate effect.

 

Financial results for FY2023

 

The audit process for the Company's financial results for the 12 months ended
31 August 2023 ("FY2023") is continuing and the Company's annual report,
including the financial statements for FY2023, is expected to be published in
January 2024.

 

 

For further information:

 

contact@oncimmune.com

 

Singer Capital Markets (Nominated Adviser and Broker)

Philip Davies, Harry Gooden, James Fischer

+44 (0)20 7496 3000

 

Zeus (Joint Broker)

Dominic King, Victoria Ayton, Dan Bate

+44 (0)20 3829 5000

+44 (0)20 3727 1000

 

About Oncimmune

 

Oncimmune is a global leader in immune biomarkers and immunodiagnostics,
offering autoantibody biomarker profiling in immunooncology, autoimmune and
infectious diseases. Through its ImmunoINSIGHTS™ technology platform, the
Company provides insights and analytics to discover and validate novel
biomarkers, improve treatment responses and adverse event (irAE) prediction,
patient screening and diagnostic accuracy.

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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