Oncimmune Holdings PLC (AIM:ONC) said it is experiencing “significant momentum” moving into the second quarter of the financial year to April 2022, driven by the ImmunoINSIGHTS service.
The autoantibody profiling service developed a pipeline of over 160 commercial opportunities last financial year and continues to secure follow-on contracts with customers of strategic importance.
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After quieter than expected summer months in which fewer new ImmunoINSIGHTS contracts were signed than originally expected, there has been a healthy resumption of activity and a strong rate of conversion of the commercial pipeline into service contracts.
The company said that these will support revenue growth in the current financial year.
The scale-up of the Dortmund facility is in progress and capable of handling upwards of 40,000 samples per annum by the first quarter of next financial year.
Oncimmune is also expanding its US sales team with recent key hires on the East and West coasts, as the majority of all ImmunoINSIGHTS contracts currently and historically being awarded are from the US.
In the year ended 31 May, revenue came in at £3.7mln from £500,000 the year before, while loss before tax shrank to £5.6mln from £9.7mln.