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Oncimmune delivering top-line growth

Last updated: 07:00 06 Mar 2024 GMT, First published: 15:36 09 Feb 2021 GMT

Snapshot

  • Oncimmune says build-out of commercial team nearly complete
  • Oncimmune's strategic pivot aims for robust growth in 2024
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About the company

Oncimmune Holdings PLC is a leading immunodiagnostics developer, primarily focused on the growing fields of immuno-oncology, autoimmune disease and infectious diseases.

The company has a diversified and growing revenue from its portfolio of diagnostic products to detect early-stage cancer and a contract discovery and development service-based platform, delivering actionable insights into therapies to its pharmaceutical and biotech partners.

How it is doing

29 Feb 2024

Oncimmune Holdings PLC (AIM:ONC) CEO Martin Gouldstone provided a guardedly optimistic assessment of prospects for the business after a pivotal year - one in which it began to focus solely on its ImmunoINSIGHTS operation.

This followed the £13 million sale of assets such as its CE-marked IVD EarlyCDT Lung blood test and antibody platform.

In commentary alongside its full-year results, the company said it had made significant progress strategically with the 'buildout' of the commercial team now 'nearly complete'.

It expects the revenue impact of these new hires to be felt towards the end of the current year and beyond. 

02 Dec 2023

In an interview with Proactive London's Thomas Warner (TW), Oncimmune Holdings PLC (AIM:ONC)'s CEO Martin Gouldstone (MG) shared insights into the "relaunch" of the business under his leadership. Gouldstone, who joined the company in August, focused on the revised strategy centring around the Immune Insights platform in their Dortmund labs.

Thomas Warner (TW): Welcome, Martin. Tell us about the new strategy at Oncimmune since your arrival.

30 Nov 2023

Antibody profiling specialist Oncimmune Holdings PLC (AIM:ONC) said it is gaining "encouraging" commercial traction after successfully landing four new projects and initiating discussions with 14 contract research groups.

Its latest round of agreements has seen it tie up with three major pharmaceutical companies, all existing clients. Two of these businesses have entered into long-term master services agreements, with the third expressing interest in a similar arrangement.

What management says

06 Mar 2024

Oncimmune Holdings PLC (AIM:ONC) CEO Martin Gouldstone joins Proactive's Stephen Gunnion with highlights of the company's 2023 performance, which included its strategic decision to focus on its ImmunoINSIGHTS platform.

A significant development was the sale of its early lung cancer detection business to US biotech company Freenome, generating substantial funds. This capital was utilised partly to reduce existing company debt and, importantly, established a five-year master service agreement (MSA) with Freenome, guaranteeing Oncimmune a minimum of £1.3 million in service revenues on a use-it-or-lose-it basis, with a two-year break clause. This deal not only provided immediate financial benefit but also assured a steady revenue stream for at least two years.

Gouldstone emphasized the company's focus on its ImmunoINSIGHTS service platform, highlighting its commercial and scientific potential. Since his tenure began in August last year, Gouldstone said he has been dedicated to maximizing the platform's commercial impact and scientific capabilities.

Oncimmune's strategic pivot aims for robust growth in 2024

Oncimmune Holdings PLC (AIM:ONC) CEO Martin Gouldstone joins Proactive's Stephen Gunnion with highlights of the company's 2023 performance, which included its strategic decision to focus on its ImmunoINSIGHTS platform. A significant development was the sale of its early lung cancer detection...

1 week, 6 days ago