REG - Oncimmune Hldgs PLC - Strategic update

Oncimmune HoldingsAnnouncement

24/02/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250224:nRSX1439Ya&default-theme=true

RNS Number : 1439Y  Oncimmune Holdings PLC  24 February 2025

 

Oncimmune Holdings plc

 

("Oncimmune" or the "Company")

 

Strategic update

 

 

Oncimmune Holdings plc (AIM: ONC.L), a leading autoantibody profiling company
to the pharmaceutical and biotechnology industry enabling precision medicine,
notes the recent fall in the Company's share price.

 

As previously announced on 10 February 2025, the Company has been exploring
strategic partnerships and business synergies to build its critical mass,
whilst in parallel seeking additional financing to extend its limited cash
runway in light of the slower than expected conversion of certain contracts.

 

The Company has appointed Alvarez & Marsal to undertake a targeted
outreach to potential partners and investors for the Company's trading
subsidiary. The Company is also in active discussions with existing investors
and with brokers regarding a fundraising with the intention of raising
sufficient capital to extend its cash runway beyond April 2025.

 

The Company remains confident in its longer-term prospects and reiterates the
outlook set out in its results announcement of 10 February 2025. Oncimmune
entered this current financial year having achieved growth at an unprecedented
rate with some positive indicators for this growth continuing into 2025 and
beyond. A material proportion of contracted revenue forecast for the current
financial year remains to be collected as cash, and the pipeline of work from
existing customers may grow to reflect follow-on projects. There are eleven
further live projects under discussion with a potential value of over £1.8m
and a number of significant strategic collaborations and transformative
contracts. Whilst there is no certainty as to value and timing of such
contracts, they would, if they proceed, materially impact Oncimmune's
financial performance.

 

 

This announcement contains inside information for the purposes of Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as
amended). Upon the publication of this announcement via a Regulatory
Information Service, this inside information is now considered to be in the
public domain.

 

For further information:

Contact Alvarez &Marsal : projectCotton@alvarezandmarsal.com

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)

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDDXLFLELLZBBV