2nd Sep 2024 17:35
(Alliance News) - Oncimmune Holdings PLC announced on Monday that it has won a new contract with a top 10 global pharma company, for a project focused on a rare immune-related disease.
The Nottingham, England-based autoantibody profiling company provides research services to the pharmaceutical and biotechnology industry to enable the delivery of precision medicine.
Oncimmune has agreed to a contract valued at USD700,000 with an unnamed "major" pharmaceutical company. The project aims to identify biomarkers related to a rare immune-related disease or disease subtype, organ involvement and clinical response.
The pharmaceutical company with which Oncimmune holds the contract is an existing customer of Oncimmune under a long-term master services agreement.
This follows Oncimmune's announcement on August 9 that it had won a contract valued at USD1.5 million with another major global pharmaceutical company.
Chief Executive Officer Martin Gouldstone said: "I continue to be pleased with the commercial progress we are making, especially in terms of the increasing scale of the projects we are winning with major customers. Our recent wins show that our strategy is working and I am confident that we are in a strong position to meet our targets for financial 2024 and reach profitability in financial 2025."
Oncimmune Holdings shares closed up 7.1% at 18.80 pence each in London on Monday afternoon.
By Emily Parsons, Alliance News reporter
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