Oncimmune Share News (ONC)

(Sharecast News) - Personalised immunodiagnostics developer Oncimmune Holdings has signed an exclusive agreement for the distribution of its 'EarlyCDT-Lung' test kit in Portugal with Sabartech, its existing distributor in Spain, it announced on Friday.The AIM-traded company said the agreement included a minimum sales commitment of £0.7m over five years.It said that every year in Portugal, around 5,300 new cases were diagnosed and approximately 4,700 deaths occurred from lung cancer.Lung cancer remained the largest cause of cancer-related deaths in the country.Oncimmune said it had also extended Sabartech's agreement in Spain from three to five years, in light of the "excellent progress" made there - including the recently-secured agreement to sell EarlyCDT-Lung as a screening test for the early detection of lung cancer through the hospitals and clinics of the Quirónsalud group.The extension added a further £1.8m of minimum sales commitments over years four and five."Portugal and Spain are important European markets and Sabartech has made good progress so far including selling EarlyCDT-Lung for screening through Quirónsalud, the largest private hospital network in Spain," said Oncimmune chief executive officer Dr Adam Hill."Extending our relationship to include Portugal was a natural progression and marks another step in the commercialisation of EarlyCDT-Lung."