REG - Oncimmune Hldngs PLC - Roche Contract Expansion to Profile Autoantibodies

Oncimmune HoldingsAnnouncement

27/07/2020 07:00

RNS Number : 0891U
  
Oncimmune Holdings PLC
  
27 July 2020
  
 

27 July 2020
 
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. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
 
 
Oncimmune Holdings plc
 
("Oncimmune" or the "Company")
 
Substantial Expansion to Roche Contract to Profile Autoantibodies in Patients undergoing Immunotherapy Trials
 
Oncimmune Holdings plc (AIM: ONC.L), the leading global immunodiagnostics group, today announces that Roche has exercised its option to increase the scope and value of the cornerstone contract announced on 28 May 2020.
 
Since the announcement, Oncimmune has been executing the project to profile patient samples collected by Roche during their cancer immunotherapy trials, and following continued discussions, it has been agreed to substantially increase the number of patient samples to be profiled. As a consequence, the overall value of the contract has increased substantially.
 
The expanded project will continue to explore the baseline and on-treatment autoantibody profiles as biomarkers in patients that received cancer immunotherapy, using Oncimmune's proprietary SeroTag® biomarker discovery platform. 
 
The overall timeline for the project has not altered with initial results to be provided to Roche within three months and completion in November 2020.
 
Dr Adam M Hill, CEO of Oncimmune said: "Our ongoing relationship with Roche is providing us with the opportunity to further contribute to the understanding of individual patient responses to immunotherapy through immune profiling. Importantly, we are delighted to see the substantial value that Oncimmune can contribute to major pharmaceutical and biotechnology companies. With the number of partners utilising our ImmunoINSIGHTS service continuing to grow, I look forward to announcing future projects in the coming few months." 
 
For further information:
 
Oncimmune Holdings plc
Adam Hill, Chief Executive Officer
Matthew Hall, Chief Financial Officer
contact@oncimmune.co.uk
 
Zeus Capital Limited (Nominated Adviser and Joint Broker)
Andrew Jones, Daniel Harris, Victoria Ayton
+44 (0)20 3829 5000
 
finnCap (Joint Broker)
Geoff Nash, Matthew Radley, Tim Redfern
+44 (0)20 7220 0500
 
Media enquiries:
FTI Consulting
Ben Atwell, Michael Trace, Alex Davis
Oncimmune@fticonsulting.com
+44 (0)20 3727 1000
 
 
About Oncimmune
 
Our intimate understanding of the human immune system enables us to harness its sophisticated response to disease to detect cancer earlier and to support the development of better therapies. 
 
The key to improving cancer survival is early detection and better selection for therapy. As a company, we are driven by our passion to improve cancer survival and give people extra time. Oncimmune's immunodiagnostic test, EarlyCDT, can detect and help identify cancer on average four years earlier than standard clinical diagnosis. 
 
The unique combination of our core technology and understanding of the immune system, powers our ImmunoINSIGHTS service; a proprietary platform that enables life science organisations to optimise drug development and delivery, leading to more effective, targeted as well as safer treatments for patients.
 
Oncimmune was founded in 2002 and launched its platform diagnostic technology in 2009, followed by the launch of its first commercial tests, EarlyCDT Lung and EarlyCDT Liver. To date, over 200,000 tests have been performed for patients worldwide. EarlyCDT Lung was also used in what is believed to be the largest randomised controlled trial for the early detection of lung cancer using biomarkers, the successful National Health Service (NHS) Early detection of Cancer of the Lung ("ECLS") trial of 12,209 high-risk smokers in Scotland. This trial demonstrated that EarlyCDT Lung reduced the incidence of patients with late-stage lung cancer or unclassified presentation at diagnosis, compared to standard clinical practice.
 
Oncimmune, headquartered at its laboratory facility in Nottingham, UK, has a discovery research centre in Dortmund, Germany and a partner representative office in Shanghai, China. Oncimmune joined the Alternative Investment Market (AIM) of the London Stock Exchange in May 2016 under the ticker ONC.L.
 
What is ImmunoINSIGHTS?
 
The ImmunoINSIGHTS service business leverages Oncimmune's technology platform and methodologies across multiple diseases, to offer life-science organisations 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.
 
For more information, visit 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 or visit www.rns.com.
 
  END
 
 
MSCRFMFTMTATBTM