Oncimmune Holdings PLC (AIM:ONC) has unveiled a strategic refocus that will see the departure of its chief executive Adam Hill.
Ron Kirschner, the company's general counsel and company secretary, has been appointed acting CEO until Hill's successor is found.
Hill said: "I am delighted to have had the opportunity to lead Oncimmune for the last five years. As I transition to a new opportunity, I look forward to seeing the new team drive the next stage of the organisation's journey."
In an update, the antibody profiling specialist has unveiled its revamped growth strategy in the wake of the recent divestment of its EarlyCDT technology for £13mln, leaving it to focus on the ImmunoINSIGHTS operation.
Key elements of Oncimmune's growth plan include an increased focus on premium clientele and core services.
The company's head of business development has moved to the US and is in the process of expanding the commercial team.
As part of the recalibration, Oncimmune is hoping to deepen its business relationship with customers as well as broadening its base across different areas of the biopharma industry.
It is also collaborating with important tech suppliers, opening up opportunities to promote each other's products.
Launching new products, Oncimmune will unveil new tools that can spot specific health markers. These include tailor-made panel tests focused on certain treatments or diseases, as well as unique services to detect specific health markers.
Finally, it will "carefully control" its cost base, investors were told.
"The board believes that the plan we set out today is the one best designed to capitalise on the company's resources and create value for all shareholders," said chairman Alistair McDonald.
"I, and the rest of the board, will continue to engage with our wider stakeholders to ensure that we remain attentive to all views as we deliver best-in-class service offerings to our customers."