Oncimmune Holdings PLC Progress against Strategy (1326V)
30 November 2023 - 6:00PM
UK Regulatory
TIDMONC
RNS Number : 1326V
Oncimmune Holdings PLC
30 November 2023
30 NOVEMBER 2023
Oncimmune Holdings plc
("Oncimmune" or the "Company")
Progress against strategy
Oncimmune Holdings plc (AIM: ONC.L), a leading autoantibody
profiling company to the pharmaceutical and biotechnology industry
enabling precision medicine, is pleased to provide an update on the
progress it is making with its strategy.
Progress against strategy
On 12 October 2023 Oncimmune's new executive leadership team set
out its vision and strategic priorities for FY2024 and beyond. As
Q1 FY2024 now draws to a close, Oncimmune can provide the following
update on progress against that strategy:
-- Contracts have been signed for four new projects, with
additional contracts having been approved by customers and are
expected to be signed in Q2 FY2024.
-- Three of the contracts are with major pharmaceutical
companies who were existing customers, demonstrating Oncimmune's
ability to consistently deliver high quality outputs and win repeat
business from key accounts. Two of the major pharmaceutical
companies have entered into long term master services agreements
with Oncimmune, with the third indicating that it would like to
discuss entering into a master services agreement.
-- The fourth contract is with a new customer focused on high
throughput drug discovery, reflecting Oncimmune's ability to expand
the scientific application of its technology platform in line with
its strategy.
-- Certain of the new contracts signed cover projects in adverse
event prognostics and expanding the application of Oncimmune's
ImmunoINSIGHTS platform, similarly in line with the strategic
objectives previous set out .
-- Discussions have begun with 14 Contract Research
Organisations (CROs), including translational medicine (discovery
and pre-clinical) and clinical studies focused CROs. Oncimmune
intends to a ccelerate the generation of new commercial contracts
by offering its highly specialised services through CROs, enabling
it to reach through to a wider customer base beyond its own direct
commercial infrastructure.
-- The commercial team has continued to grow as planned, now
consisting of three experienced professionals in the US and a new
Senior Director joining in December 2023 to lead commercial efforts
in Europe. Further expansion of the commercial team in Europe is
expected in Q2/Q3 FY2024 in line with budget.
Martin Gouldstone, Oncimmune's Chief Executive Officer,
said:
"I am encouraged to see the commercial traction already being
made on delivering our strategy, including our ability to expand
the application of our ImmunoINSIGHTS platform into drug discovery
as well as clinical trials. I have recently spent time discussing
our strategy with some of our key stakeholders and have been
pleased to see how well it has been received, also allowing us to
recruit top talent to further accelerate our ability to deliver on
it"."
Board changes
As announced on 12 October 2023, Dr Annalisa Jenkins has decided
to step down from the Board and a new Senior Independent
Non-Executive Director, Sally Waterman, has been appointed. The
transition of Annalisa's responsibilities has now been completed
and she has therefore ceased to be a director with immediate
effect.
Financial results for FY2023
The audit process for the Company's financial results for the 12
months ended 31 August 2023 ("FY2023") is continuing and the
Company's annual report, including the financial statements for
FY2023, is expected to be published in January 2024.
For further information:
contact@oncimmune.com
Singer Capital Markets (Nominated Adviser and Broker)
Philip Davies, Harry Gooden, James Fischer
+44 (0)20 7496 3000
Zeus (Joint Broker)
Dominic King, Victoria Ayton, Dan Bate
+44 (0)20 3829 5000
+44 (0)20 3727 1000
About Oncimmune
Oncimmune is a global leader in immune biomarkers and
immunodiagnostics, offering autoantibody biomarker profiling in
immunooncology, autoimmune and infectious diseases. Through its
ImmunoINSIGHTS(TM) technology platform, the Company provides
insights and analytics to discover and validate novel biomarkers,
improve treatment responses and adverse event (irAE) prediction,
patient screening and diagnostic accuracy.
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
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