17th Mar 2025 14:29
(Alliance News) - Oncimmune Holdings PLC on Monday said it has been placed into administration and suspended trading on the AIM market after failing to extend its cash runway.
Oncimmune is a Leeds, England-based provider of autoantibody profiling research services to the pharmaceutical and biotechnology industry to enable delivery of precision medicine.
It said it has not been able to find a buyer for its trading subsidiary Oncimmune Germany GmbH despite "positive interest".
The company said it has also not been able to raise additional capital to meet its short term funding needs.
Oncimmune said it has concluded there are "no further options available to the company" and it should be placed into administration "to preserve the value of the business for creditors".
It said it will appoint managing directors from Alvarez & Marshal Europe LLP as administrators as soon as reasonably practicable.
Oncimmune was suspended from trading on the AIM market on Monday morning.
The shares last traded at 1.14 pence each on Friday. The stock has fallen 93% over the last twelve months.
By Michael Hennessey, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Oncimmune