Oncimmune signs follow-on COVID-19 contract with US medical research organisation
(ONC ) has signed a follow-on contract with a US medical research organisation to validate previous profiling in COVID-19 in immune-compromised patients.
Under the terms of the contract, new samples will be analysed using Oncimmune’s existing SeroTag™ COVID-19 autoantigen array, to confirm the autoimmune reactions already seen in COVID-19 patients with underlying autoimmune diseases, such as irritable bowel disease.
SeroTag™ is the company’s proprietary biomarker discovery engine, which is leveraged by its ImmunoINSIGHTS services to both discover and validate novel biomarkers that can help stratify patients in multiple cancer indications as well as with different autoimmune diseases.
Dr Adam M Hill, CEO of Oncimmune told investors: “We have now successfully completed four studies for this world-leading medical research organisation relating to COVID-19.”
He added that this follow-on contract, together with other recently announced contracts, “underlines Oncimmune’s leading position in autoimmune profiling of infectious disease.”
Today’s contract marks the latest in a string of new agreements secured by the immunodiagnostics group . Last week, it announced that it had signed a commercial collaboration deal with a healthcare company owned by Google’s parent, Alphabet.
Oncimmune said it will utilise its recently validated infectious disease panel of biomarkers to evaluate whether autoantibodies are associated with the development of “Long COVID”.
On Tuesday, Oncimmune also announced that it would be utilising the autoantibody services of its ImmunoINSIGHTS platform as part of a new partnership with Synexa Life Sciences BV.
This ‘go-to-market’ collaborative partnership is expected to allow for comprehensive characterisation of the B-cell immune response in disease and treatment indications.
Meanwhile, on Friday, the group signed another contract with a top 10 global pharmaceutical company to profile biomarkers in chronic inflammatory demyelinating polyradiculoneuropathy (CIDP), a slowly developing rare neurological disorder that attacks the nerves in your body.
Under the terms of this commercial contract, Oncimmune will utilise its proprietary biomarker discovery platform, SeroTag™, to identify autoantibodies related to the neurological disorder.
Last week, Oncimmune also informed investors that it expects its ImmunoINSIGHTS to become ‘a leading player’ in the autoantibody profiling segment of pharma services by FY23.
In its half-year results for period to 30 November 2021, the group, which highlighted a solid ImmunoINSIGHTS pipeline, said this growth will be supported by an “enviable list” of existing blue-chip customers, which includes “many of the world’s leading pharmaceutical companies.”
Since launching the ImmunoINSIGHTS business back in 2020, the company has secured contracts with five of the top ten global pharma companies. This is expected to constitute around 70% of revenue for FY22. The Group added that most of these clients have multiple studies, with five separate programmes underway with the world’s leading oncology group.
The number of contracted clients has more than doubled from FY21 to 13, with three of these currently running multiple contracts each. The company said momentum has continued to accelerate post period, particularly in terms of number of orders and its forecast pipeline.
In particular, the company highlighted to investors that there is increasing visibility from project extensions as well as additional contracts in other areas for Oncimmune’s existing clients.
The company currently anticipates that by the end of FY22 approximately 70% of FY22 group revenues will have been earned from contracts with the top ten pharmaceutical companies.
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