Oncimmune Holdings (ONC ) announced that it has signed two commercial contracts for its ImmunoINSIGHTS platform with two US-based clinical-stage biopharmaceutical companies.
The global immunodiagnostics group said the two further contracts are demonstrative of the progress that the Group’s Commercial team are making from its new US office in Boston.
The first commercial contract secured by Onicmmune is with an US-based clinical-stage biopharmaceutical company which is developing first-in-class cellular immunotherapies for cancer patients utilizing off-the-shelf natural killer ("NK") cell and CAR-NK cell products.
This will see Oncimmune use its proprietary biomarker discovery platform, SeroTag, to identify autoantibodies that can be predictive of patient clinical response, and potential resistance to engineered cellular therapies in hematological as well as solid tumor oncology indications.
Oncimmune’s SetoTag is a proprietary biomarker discovery engine, which is leveraged in the Company’s ImmunoINSIGHTS services to discover and validate novel biomarkers that can help stratify patients in multiple cancer indications and with different autoimmune diseases.
Oncimmune said this new contract demonstrates the significant potential that the Company's ImmunoINSIGHTS technology platform could have in the engineered cellular therapy space.
A second contract has been signed with a biopharmaceutical group developing a proprietary technology to discover, develop and commercialize transformative oncology treatments.
This project will profile the autoantibodies in patients treated with a virus-like particle which stimulates anti-tumor T cells. “By profiling patients longitudinally, the aim of the project is to demonstrate how the immune system is affected by this therapy,” Oncimmune explained.
Commenting this morning, CEO of Oncimmune, Dr Adam M Hill outlined: "We are particularly excited by the signing of our first contract within the allogeneic and CAR-NK market segment which we believe could open up a new opportunity for our services in the engineered cellular therapy space. Unlocking the utility of the ImmunoINSIGHTS platform in these cutting-edge therapies promises to substantially improve clinical outcomes for cancer patients."
The Company’s ImmunoINSIGHTS service business leverages Oncimmune's technology platform and methodologies across multiple diseases, to offer life-science organizations actionable insights for therapies across the development and product lifecycle.
The ImmunoINSIGHTS development team is based in the United States and Europe and Oncimmune is seeking to replicate the Dortmund facility in the US in the medium term.
Last month, Oncimmune informed investors that it expects its ImmunoINSIGHTS to become ‘a leading player’ in the autoantibody profiling segment of pharma services by FY23.
In its half-year results for period to 30 November 2021, the group, which highlighted a solid ImmunoINSIGHTS pipeline, said this growth will be supported by an “enviable list” of existing blue-chip customers, which includes “many of the world’s leading pharmaceutical companies.”
Since launching the ImmunoINSIGHTS business back in 2020, the company has secured contracts with five of the top ten global pharma companies. This is expected to constitute around 70% of revenue for FY22. The Group added that most of these clients have multiple studies, with five separate programmes underway with the world’s leading oncology group.
The number of contracted clients has more than doubled from FY21 to 13, with three of these currently running multiple contracts each. The company said momentum has continued to accelerate post period, particularly in terms of number of orders and its forecast pipeline.
In particular, the company highlighted to investors that there is increasing visibility from project extensions as well as additional contracts in other areas for Oncimmune’s existing clients.
The company currently anticipates that by the end of FY22 approximately 70% of FY22 group revenues will have been earned from contracts with the top ten pharmaceutical companies.
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