Businessman on finance backgroundBusinessman on finance background

 

What the company does: 

Oncimmune PLC (LON:ONC) is a specialist in the field of immunodiagnostics.

Specifically, its technology detects evidence of the body’s natural response to cancer, enabling detection four years or more before standard clinical diagnosis.

Founded in 2002, it launched its platform technology in 2009, followed by its first commercial tests – EarlyCDT-Lung and EarlyCDT-Liver.

To date, over 155,000 Oncimmune tests have been performed worldwide.

EarlyCDT-Lung was used in the largest-ever trial for the early detection of lung cancer using biomarkers – the National Health Service’s Early Cancer Detection Test-Lung Cancer Scotland (ECLS) study of 12,210 high-risk smokers in Scotland.

Oncimmune also develops precision medicine and patient tools that allow doctors to place people being treated for cancer and autoimmune diseases into certain patient sub-groups, a process called stratification.

 

Scottish NHS study success:

A total of 12,210 Scots were monitored for two years as part of the ECLS initiative in what is believed to be the largest randomised controlled assessment of its kind.

Sponsored by the University of Dundee and NHS Tayside and co-funded by the Chief Scientist Office, the study, to use the scientific parlance, hit its primary end-point.

Specifically, monitoring recruits reduced the incidence of people with late-stage lung cancer, or “unclassified presentation at diagnosis”, compared to standard clinical practice.

 

Inflexion Points

  • In early November, Oncimmune clinched a commercialisation deal with US diagnostics firm Biodesix for its EarlyCDT Lung cancer test. The deal, originally announced in June, will be worth up to US$28mln over the next five years, with the agreement open for renewal for another five year period up to 2029 and thereafter
  • In September, the company presented positive trial data from its EarlyCDT Lung test were presented at the World Conference for Lung Cancer in Barcelona
  • The company recently made three senior appointments to strengthen its team for the development of EarlyCDT, including a chief scientific officer, chief commercial officer and head of investor relations
  • The company has secured an €8.5mln credit facility that it says will help “drive commercial adoption” of its cancer diagnostic product
  • In July, Oncimmune struck a multi-million-pound deal which will see its EarlyCDT Lung cancer detection test used by Russia’s leading drugmaker, R-Pharm

 

Video

With the shares trading at 65p as of 1 November 2019, Oncimmune carries a market cap of £40.5mln.