Cizzle Biotechnology Holdings PLC (LSE:CIZ) shares jumped 13% after the cancer diagnostics group announced its first commercial contract for the CIZ1B lung cancer test.
The deal, struck through licensing partner Cizzle Bio, is with Doctors Hospital in the Cayman Islands and will trigger $500,000 in early royalty payments later this year.
The company, which specialises in early-stage cancer detection, said the contract was a key step in its strategy to drive revenue through global licensing.
Cizzle is also working towards laboratory accreditations in the US, prompting a slight delay to the wider commercial launch originally planned for April.
Its CIZ1B biomarker is designed to catch lung cancer earlier, when treatment is more effective, and forms the backbone of its growth plans as it pushes into new markets.
The shares rose 0.19p to 1.69p.