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 industries to
enable the delivery of precision medicine, is pleased to provide a
trading update on commercial progress since
its last update on 9 September 2024.
During this brief period, Oncimmune
has signed three new contracts with a total value of £0.34m,
continuing the positive commercial traction achieved over the last
three months in which a total of eight contracts with a value of
£2.14m have been signed.
· Two of the
contracts that have just been signed are for work in a new area for
a top 10 global pharmaceutical company, which is an existing
customer.
· The third
contract is a further piece of work utilising Oncimmune's ability
to reliably profile Immunoglobulin type E ("IgE") autoantibodies, a
technological breakthrough, as announced in our update of 9 August
2024. This project is also with an existing top 10 global
pharmaceutical customer.
FY2025 outlook
Whilst these new contracts do not
lead to a raise in outlook for FY2025 they do underpin market
expectation and are a strong sign of the increasing commercial
success that the business is seeing and indicate its ability to
secure repeat business from Top 10 pharma companies. With the new
contracts and high confidence weighted pipeline, Oncimmune has
visibility of over 40% of the FY2025 revenue guidance of £6.9m
referenced in the Cavendish note dated 21st
May.
Martin Gouldstone, CEO of Oncimmune said:
"Following the fundraise, and successful debt recapitalisation
of the business announced on the 18 October 2024, I am pleased to
see that our relentless focus on the commercial side of the
business continues to bear fruit. These new wins with existing Top
10 Pharma customers keeps us on track to be a profitable business
in FY2025."
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
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