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Pin to quick picksOncimmune Share News (ONC)

Share Price Information for Oncimmune (ONC)

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Share Price: 218.00
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Oncimmune enters collaboration with Roche subsidiary

Wed, 23rd Sep 2020 16:05

(Sharecast News) - Immunodiagnostics group Oncimmune Holdings has signed a collaboration with Roche subsidiary Genentech, it announced on Wednesday, to characterise the autoantibody profiles of patients in clinical trials for rheumatological diseases, including systemic lupus erythematosus (SLE).
The AIM-traded firm said that in the new project, it would use its proprietary 'NavigAID' panel to characterise autoantibody profiles from trial participants.

Following completion of the project, Genentech had the option to expand the contract to profile additional samples.

Oncimmune described SLE as a "chronic, incurable autoimmune disease" associated with multiple symptoms that could flare up over time.

Diagnosis of SLE could be challenging, it said, with an objective of the project being better characterisation of the disease, where there is a high unmet need for effective therapy.

This project would builds in the company's broadening commercial footprint to both deliver diagnostic tests through 'EarlyCDT Lung' and 'Liver', as well as to partner with large pharmaceutical companies by profiling autoantibodies and developing commercial companion diagnostic tests through its 'ImmunoINSIGHTS' service business.

"Genentech is a pre-eminent biotechnology company, considered a leader in the biotech industry today," said chief executive officer Dr Adam Hill.

"This contract adds to the already substantial pipeline of contracted revenue through our ImmunoINSIGHTS business in the 2021 financial year and provides another opportunity to show how our NavigAID technology can assist partners in increasing their ability to better assess where their medicines could make an impact.

"We look forward to delivering this project and contributing to the scientific understanding of lupus."

At 1542 BST, shares in Oncimmune Holdings were up 7.53% at 150p.

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