Just over two months into the job, Oncimmune Holdings PLC (AIM:ONC) chief executive Martin Gouldstone has unveiled the updated corporate strategy for the antibody profiling specialist, which will include accelerating commercial contracts and "leveraging" its unique scientific capabilities.
Gouldstone joined the business on 1 August, followed by finance director Martin Hudson last month, with the management triumvirate completed with the appointment of Ron Kirschner, formerly interim CEO, as chief operating officer.
The disposal of Oncimmune Limited in May means their focus will be the ImmunoINSIGHTS immuno-profiling business.
Its potential is underlined by the fact that it has developed a robust multiplexing technology platform capable of processing tens of thousands of samples per year.
Going forward, the plan is to accelerate commercial contracts through partnerships with contract research organisations in both translational medicine and traditional clinical sectors. This aims to extend its customer reach beyond the current infrastructure.
In doing so, the company will also diversify its scientific applications in auto-antibody analysis to include adverse event prognostics in immuno-oncology and companion diagnostics while exploring new avenues in central nervous system disorders and diabetes.
Oncimmune is shifting from a price-per-sample business model to strategic partnerships, akin to its long-term relationship with Freenome Holdings, Inc. Key commercial team hires in Europe and the US signal further expansion plans.
"In my first couple of months with the company I have had the pleasure of meeting with a number of our current and potential customers, as well as some of our wider stakeholders, and have been very pleased to see our technological offering and customer service has been so well received," said CEO Gouldstone.
"I believe that our new strategic approach, which encompasses CRO partnerships, the extension of our world-class technology into new scientific areas and the use of new commercial models, will help us to drive growth in FY2024 and beyond, following a tough FY2023."
In the same announcement, investors were told that director Tim Bunting had stepped down with immediate effect, while senior independent director Dr Annalisa Jenkins will leave at the end of the year and will be replaced by Sally Waterman.
Chairperson Alistair Macdonald said: "I would like to offer my sincere thanks to both Tim and Annalisa for their long and steadfast support of Oncimmune over many years.
"I am delighted to welcome Sally to our board and look forward to working closely with her, as we continue to drive a stronger commercial agenda."