Oncimmune Holdings PLC Trading Update

RNS Number : 3054K

Oncimmune Holdings PLC

31 October 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 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 21^st 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

[e-mail]

 

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)

[phone]

 

Zeus (Joint Broker)

Dominic King, Dan Bate

[phone]

 

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 [e-mail] 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

 

 

TSTFDDFWSELSELS