REG - Oncimmune Hldgs PLC - Trading Update

Oncimmune HoldingsAnnouncement

31/10/2024 07:00

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RNS Number : 3054K  Oncimmune Holdings PLC  31 October 2024

Oncimmune Holdings plc

("Oncimmune" or the "Company")

 

Trading Update

 

 

Oncimmune Holdings plc (AIM: ONC.L), a leading autoantibody profiling company providing research services to the pharmaceutical and biotechnology industries to enable the delivery of precision medicine, is pleased to provide a trading update on commercial progress since its last update on 9 September 2024.

 

During this brief period, Oncimmune has signed three new contracts with a
total value of £0.34m, continuing the positive commercial traction achieved
over the last three months in which a total of eight contracts with a value of
£2.14m have been signed.

 

·     Two of the contracts that have just been signed are for work in a
new area for a top 10 global pharmaceutical company, which is an existing
customer.

 

·     The third contract is a further piece of work utilising Oncimmune's
ability to reliably profile Immunoglobulin type E ("IgE") autoantibodies, a
technological breakthrough, as announced in our update of 9 August 2024. This
project is also with an existing top 10 global pharmaceutical customer.

 
 
FY2025 outlook

 

Whilst these new contracts do not lead to a raise in outlook for FY2025 they
do underpin market expectation and are a strong sign of the increasing
commercial success that the business is seeing and indicate its ability to
secure repeat business from Top 10 pharma companies. With the new contracts
and high confidence weighted pipeline, Oncimmune has visibility of over 40% of
the FY2025 revenue guidance of £6.9m referenced in the Cavendish note dated
21(st) May.

 

Martin Gouldstone, CEO of Oncimmune said:

 

"Following the fundraise, and successful debt recapitalisation of the business
announced on the 18 October 2024, I am pleased to see that our relentless
focus on the commercial side of the business continues to bear fruit. These
new wins with existing Top 10 Pharma customers keeps us on track to be a
profitable business in FY2025."

 

 

For further information:

 

Oncimmune Holdings plc

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 (ECM)

+44 (0) 20 7220 0500

 

Zeus (Joint Broker)

Dominic King, Dan Bate

+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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