Oncimmune inks multiple new distribution agreements

(Sharecast News) - Oncimmune revealed on Monday that it had signed multiple new distribution agreements for its EarlyCDT-Lung test as part of an early morning trading update.The AIM-listed group inked the agreements for the exclusive distribution of its EarlyCDT-Lung test in Spain, as well its non-exclusive distribution in India, for an initial term of four years and a minimum sales commitment of £1.67m over the term of the contract. Oncimmune expects first sales in 2019.Elsewhere, as part of its framework agreement for an exclusive licence with Genostics, Oncimmune's distribution agreement with Acecgt in Hong Kong, has been terminated with all distribution rights passing to Genostics.Oncimmune assured investors it expects the effect of the distributor change to be immaterial and, instead, anticipates the switch up to accelerate sales in the region.Oncimmune now has a total of 15 agreements a with total minimum sales commitments of £29.5m over their initial periods, with progress being made towards the necessary product registrations to allow wider commercialisation of its products.As of 1245 BST, Oncimmune shares had slipped 1.17% to 127p.