Oncimmune Holdings
plc
("Oncimmune" or the "Company")
Strategic
update
Oncimmune Holdings plc (AIM: ONC.L),
a leading autoantibody profiling company to the pharmaceutical and
biotechnology industry enabling precision medicine, notes the
recent fall in the Company's share price.
As previously announced on 10
February 2025, the Company has been exploring strategic
partnerships and business synergies to build its critical mass,
whilst in parallel seeking additional financing to extend its
limited cash runway in light of the slower than expected conversion
of certain contracts.
The Company has appointed Alvarez
& Marsal to undertake a targeted outreach to potential partners
and investors for the Company's trading subsidiary. The Company is
also in active discussions with existing investors and with brokers
regarding a fundraising with the intention of raising sufficient
capital to extend its cash runway beyond April 2025.
The Company remains confident in its
longer-term prospects and reiterates the outlook set out in its
results announcement of 10 February 2025. Oncimmune entered this
current financial year having achieved growth at an unprecedented
rate with some positive indicators for this growth continuing into
2025 and beyond. A material proportion of contracted revenue
forecast for the current financial year remains to be collected as
cash, and the pipeline of work from existing customers may grow to
reflect follow-on projects. There are eleven further live projects
under discussion with a potential value of over £1.8m and a number
of significant strategic collaborations and transformative
contracts. Whilst there is no certainty as to value and timing of
such contracts, they would, if they proceed, materially impact
Oncimmune's financial performance.
This announcement contains inside information for the purposes
of Regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310 (as amended). Upon the publication of this
announcement via a Regulatory Information Service, this inside
information is now considered to be in the public
domain.
For
further information:
Contact Alvarez &Marsal :
projectCotton@alvarezandmarsal.com
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 (Corporate
Broking)
+44 (0) 20 7220 0500
Zeus (Joint Broker)
Dominic King
+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
