Oncimmune lifted as agreement finalised

The price of shares in immunotherapy specialist Oncimmune (LON:ONC) has risen by 3.13% to 66p after it finalised a US commercialisation agreement for its EarlyCDT product. As part of the arrangement, the company will sell its US lab operations in a move that will materially improve its cash position.

CEO Dr. Adam Hill commented: “We are delighted to be working with Biodesix, a company with a successful track record of commercialising clinical diagnostic lung tests in the US and dedicated to improving patient management and outcomes. Biodesix is focused on extending the utility of EarlyCDT Lung to screening in the US, and this partnership, which fully realises the value of EarlyCDT Lung, will accelerate market access and save lives through earlier detection of lung cancer.

“This partnership and other agreements announced this year, demonstrate our ability to deliver on the core objective to drive organic growth through commercial collaborations. In addition, we have secured further funding through a credit facility arrangement, which puts us in a strengthened cash position to deliver on our three-year forward strategy“.