(Alliance News) - Immunodiagnostics group Oncimmune Holdings PLC said Tuesday it has signed an antigen targeting collaboration with an unnamed US biopharmaceutical company for drug development.
Under the partnership, Oncimmune will use its biomarket discovery engine SeroTag to identify antigen targets from selected human immunogloulin antibodies. This is expected to help address the number of challenges hindering the development and application of cancer immunotherapies and treatment for autoimmune diseases.
The agreement will also provide Oncimmune with the rights to develop commercial companion diagnostic devices for each validated candidate.
"This drug development collaboration agreement both validates last year's acquisition of Oncimmune Germany and, importantly, moves Oncimmune's commercial proposition beyond early cancer detection into supporting the process of drug development and adoption. Antigen targeting has always been a focus of our three-year forward strategy, and I am now delighted to see our platform used in this endeavour," said Chief Executive Officer Adam Hill.
Shares in Oncimmune Holdings closed up 1.5% at 76.10 pence on Tuesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Oncimmune (ONC)