ONC.L

Oncimmune Holdings Plc
Oncimmune Hldgs PLC - Trading Update
9th September 2024, 06:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 3311D
Oncimmune Holdings PLC
09 September 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 industry to enable the delivery of precision medicine, is pleased to provide a trading update following strong commercial progress since its last update on 21 May 2024:

 

·     As announced on 9 August 2024, following a successful pilot carried out for a major pharmaceutical company, Oncimmune has entered into an agreement for a major new project with that pharmaceutical company, with a contract value of at least US$1.5M, which will utilise a technological breakthrough achieved by Oncimmune's scientific team.

 

·     As further announced on 2 September 2024, another major pharmaceutical company, for whom Oncimmune is already a preferred supplier, has entered into a new $0.7M project, focused on a rare immune related disease, with the initial samples to be analysed already being held by Oncimmune.

 

·     In addition to the significant contracts described above, Oncimmune has also entered into contracts for three other new projects since its last update. Two contracts are with a US biotech to analyse multi-omic data from its clinical trials. This is a new area for Oncimmune and a testament to its strong data analytics capability.  The third contract is through a contract research organisation  with whom Oncimmune has a long standing relationship, with the project providing IgA autoantibody analysis for a European biotech as a follow on to previous work carried out for that customer.

 

·     Oncimmune has also entered into a framework agreement for future collaboration, including cross-selling, with a major UK R&D accelerator.  It is expected that this relationship will be leveraged during FY2025 and beyond.

 

 

Year ended 31 August 2024 (FY24) and outlook

 

As previously announced, Oncimmune expects to deliver approximately £3M of revenue in FY24 and with recently contracts underpinning activity in FY2025, expects to deliver substantial revenue growth in FY2025 and achieve profitability in that financial year.

 

Martin Gouldstone, CEO of Oncimmune said:

 

"This has been a very busy period for Oncimmune commercially and a real indication of the commercial traction we have been seeing in the market. These new wins help to set us up well for FY2025 following on from the solid base we have built in FY2024 giving us confidence in our ability to be a profitable business in FY2025."

 

Alistair MacDonald, Chairman of Oncimmune said:

 

"Martin has been with the team a little over a year now and we have seen a step change in the commercial focus of the Oncimmune team in that time.  We are pleased to see the increased traction with customers starting to convert into better commercial results and a broadening pipeline as we enter a new financial year."

 

 

For further information:

 

Oncimmune Holdings plc

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

+44 (0)20 3727 1000

 

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

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.

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.
 
END
 
 
TSTSSLEFAELSEDU]]>
TwitterFacebookLinkedIn