has inked an initial contract with an unnamed client which which will use its EarlyCDT Lung panel to detect incident lung cancer cases in a screening setting.
The client, which the group describes as one of the world’s largest pharmaceutical companies, will evaluate the potential of the panel to screen for lung cancer in at-risk patients.
The AIM-listed immunodiagnostics firm said this initial phase could be a “first step” towards a long-term partnership that would see the widespread availability of the EarlyCDT Lung test.
Shares in Oncimmune Holdings were trading flat at 96.5p on Thursday afternoon.
The latest agreement is one of a series of deals inked in the last two months that showed the “full breadth” of the firm’s commercial offering, said Adam Hill, the group’s Chief Executive.
“Our three year strategy, announced in late 2018, centred on identifying and capitalising upon the wide range of opportunities presented by Oncimmune's proprietary autoantibody-based platform,” said Hill.
He added, “We firmly believe that the momentum we are building validates our strategy and underpins the commercial potential of our business.”
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In a half year eport for the six month period to 31 March 2020, the group said it had met its initial objective in identifying and acquiring an early stage natural resources project which it believes holds “tremendous growth potential.”
The government is looking at ways to relax the 14-day quarantine rule for people entering the UK over coming months. As it stands from Monday, most people arriving by plane, ferry or train - including UK nationals - must self-isolate.
The group highlighted ‘a relatively strong financial position’ in final results for the year ended 31 December 2019 and now awaits drilling at the highly anticipated Perseverance #1 well in the Bahamas.