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Oncimmune Holdings PLC

Oncimmune Holdings plc New Distribution Agreements Signed and First Registration Outside of EU

Dr Adam Hill, CEO of Oncimmune commented: “In line with the 1st phase of our three-year plan, today’s announcements further broaden our geographical footprint and strengthen our sales pipeline of EarlyCDT-Lung. I am delighted to welcome Italy, France and Germany to the Oncimmune stable and pleased that South and Central America continue to embrace the need to detect lung cancer early, to which end EarlyCDT-Lung is a fundamental enabler. Finally, Singapore’s successful registration of our product signals the beginning of our commercial activity in the wider region and is significant in the fight against cancer.

“These additional agreements bring our total in Europe to nine and, importantly, complete our coverage across the five major European countries. Our total minimum global committed revenues now total £33.5 million over the next six years and we are now seeing the first registrations, a key step towards revenue generation in these markets.”

Oncimmune Holdings plc (LON: ONC), a leader in the development, manufacture and commercialisation of personalised immunodiagnostics for the screening, detection and care of cancer, today announced that it has signed exclusive agreements for the distribution of its EarlyCDT-Lung test in Germany with hrmed.tech; in France with Eurobio Scientific (a subsidiary of the public company Diaxonhit and the country’s largest distributor of in-vitro diagnostics); and in Italy with BSN srl.

The exclusive agreements allow for the sale of the CE marked EarlyCDT-Lung kit as a screening test and for the risk assessment of indeterminate pulmonary nodules. The agreement in Germany is for an initial term of five years and includes minimum sales commitments of £3 million over the term of the contract with first sales expected in 2019. Germany is the largest market in Europe, with over 18 million smokers and over 5 million CT scans performed per year. There are approximately 44,000 deaths from lung cancer in Germany every year.

The agreements in France and Italy are both for an initial term of three years with minimum sales commitments of £0.49 million and £0.45 million respectively, over the term of the contracts. First sales are expected in 2019. France is the second largest market in Europe with just under 18 million smokers and 13 million CT scans annually and Italy is the third largest market in Europe with over 14 million smokers. Across France, Italy and Germany there are approximately 110,000 deaths from lung cancer every year and the disease remains the leading cause of cancer deaths in all three countries.

In addition, Oncimmune received confirmation from the Health Sciences Authority (HSA) that its EarlyCDT-Lung kit has been approved and registered in Singapore and initial sales have already commenced. Further registrations in other countries are expected to follow in the coming months.

Oncimmune has also signed a non-exclusive distribution agreement with South Genetics, Inc. for the EarlyCDT-Lung test in Argentina, Uruguay, Dominican Republic, Mexico and Chile. With this agreement in place, alongside the recently announced addition of MultiPlan, Inc. to our existing Pay Per Order (PPO) network, Oncimmune has good coverage across the North, Central and South American markets.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.