Oncimmune Holdings PLC Distribution agreement signed for Iran (6285W)
16 November 2017 - 6:00PM
UK Regulatory
TIDMONC
RNS Number : 6285W
Oncimmune Holdings PLC
16 November 2017
16 November 2017
Oncimmune Holdings plc
("Oncimmune" or the "Company")
Distribution agreement signed for EarlyCDT(R)-Lung Kit in
Iran
Agreement for screening and indeterminate pulmonary nodule
applications with minimum sales commitment of approximately
GBP1.1m
Nottingham, UK - 9 November 2017: Oncimmune Holdings plc (AIM:
ONC.L), a leading early cancer detection company developing and
commercialising its proprietary EarlyCDT(R) platform technology,
today announces it has signed an exclusive agreement for
distribution of its EarlyCDT(R)-Lung test in Iran with Tarvand Sina
Tajhiz Co., an Iranian provider of test services and kits to the
medical community.
The agreement allows for the sale of the CE marked
EarlyCDT(R)-Lung kit as a screening test and for the risk
assessment of indeterminate pulmonary nodules. The agreement is for
an initial term of three years and includes minimum sales
commitments of GBP1.1 million over the term of the contract. First
sales are expected to commence in the second half of 2018.
Geoffrey Hamilton-Fairley, CEO of Oncimmune, commented: "This
distribution agreement is our seventh in the Asia Pacific region
and now brings the minimum sales commitment in this region to
approximately GBP7.6 million over the next five years. In the
coming months we expect to sign a number of further agreements in
the region, and beyond, as we continue to deliver on our strategy
of generating revenues from our platform technology through
multiple products, regions and partners."
For further information:
Oncimmune Holdings plc
Geoffrey Hamilton-Fairley, Chief Executive Officer
contact@oncimmune.co.uk
Zeus Capital Limited (Nominated Advisor and Broker)
Giles Balleny, Hugh Kingsmill Moore
+44 (0) 203 829 5000
Media enquiries:
Consilium Strategic Communications
Chris Gardner, Matthew Neal, Lindsey Neville
oncimmune@consilium-comms.com
+44 (0) 20 3709 5708
About Oncimmune
Oncimmune is a leading early cancer detection company developing
and commercialising its proprietary EarlyCDT(R) platform
technology. Oncimmune has pioneered the development of autoantibody
tests that can detect cancer up to four years earlier than other
methods and can be applied to a very wide range of solid tumour
types. The Company's first product, EarlyCDT(R)-Lung, was launched
in 2012, as a CLIA test in the USA and since then over 150,000
commercial tests have been sold. EarlyCDT(R)-Lung is available
through physicians in the US and also privately in the UK and other
regions. EarlyCDT(R)-Lung is being used in the largest ever
randomised trial for the early detection of lung cancer using
biomarkers, the National Health Service (NHS) Scotland ECLS study
of 12,210 high-risk smokers. EarlyCDT(R) tests for liver and
ovarian cancer are in development.
Oncimmune, headquartered in Nottingham, United Kingdom with
testing facilities in the US, joined AIM in May 2016 under the
ticker ONC.L. For more information, visit www.oncimmune.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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