19 January 2021
Oncimmune Holdings plc
("Oncimmune" or the "Company")
Directorate Change
Oncimmune Holdings plc (AIM: ONC.L), the leading global immunodiagnostics group, announces that Dr Cheung To ("CT") has stepped down as a non-executive Director of the Company, effective from 19 January 2021.
Dr To remains a Director of Genostics Company Limited ("Genostics"), part of the Gene Group Holdings Limited ("GGH") group, and stepping down is expected to enable Dr To to focus on the continued development of GGH as it prepares for its future corporate and commercial activities. Genostics remains a significant shareholder of Oncimmune and its recent disposal of shares in Oncimmune, bringing its holding to below 10%, was undertaken in line with GGH's preparation for its anticipated corporate activities. Genostics remains Oncimmune's exclusive partner in China and continues to work closely with Oncimmune to gain market entry.
In June 2020, Oncimmune announced the first phase of its Board reorganisation in order to be as agile, lean and focused as possible and to support the Executive as they continue to deliver on Oncimmune's corporate strategy. With Dr To's resignation, the Board is now primed for the launch of its next growth cycle.
Oncimmune continues to see strong and increasing demand both for its ImmunoINSIGHTS services business as well as its EarlyCDT Lung product business, particularly in the US through its partner Biodesix, Inc., and most recently within the NHS, as well as across its distributor network.
Meinhard Schmidt, Chairman of Oncimmune said: "We are grateful for the support CT has provided as a director of Oncimmune and wish him well as he prepares to accelerate the development of his interests in China. We look forward to continuing our commercial relationship with GGH, through its IPO and beyond ".
For further information:
Oncimmune Holdings plc
Adam Hill, Chief Executive Officer
Matthew Hall, Chief Financial Officer
Zeus Capital Limited (Nominated Adviser and Joint Broker)
Andrew Jones, Daniel Harris, Victoria Ayton
+44 (0)20 3829 5000
N+1 Singer (Joint Broker)
Aubrey Powell, Harry Gooden, Iqra Amin, James Fischer
+44 (0)20 7496 3000
WG Partners (Joint Broker)
David Wilson, Chris Lee
+44 (0)203 705 9321
Media enquiries:
FTI Consulting
Ben Atwell, Michael Trace, Alex Davis
+44 (0)20 3727 1000
About Oncimmune
Our intimate understanding of the human immune system enables us to harness its sophisticated response to disease to detect cancer earlier and to support the development of better therapies.
The key to improving cancer survival is early detection and better selection for therapy. As a company, we are driven by our passion to improve cancer survival and give people extra time. Oncimmune's immunodiagnostic test, EarlyCDT®, can detect and help identify cancer on average four years earlier than standard clinical diagnosis.
The unique combination of our core technology and understanding of the immune system, powers our ImmunoINSIGHTS service; a proprietary platform that enables life science organisations to optimise drug development and delivery, leading to more effective, targeted as well as safer treatments for patients.
Oncimmune was founded in 2002 and launched its platform diagnostic technology in 2009, followed by the launch of its first commercial tests, EarlyCDT Lung and EarlyCDT Liver. To date, over 200,000 tests have been performed for patients worldwide. EarlyCDT Lung was also used in what is believed to be the largest randomised controlled trial for the early detection of lung cancer using biomarkers, the successful National Health Service ("NHS") Early detection of Cancer of the Lung ("ECLS") trial of 12,208 high-risk smokers in Scotland. This trial demonstrated that EarlyCDT Lung reduced the incidence of patients with late-stage lung cancer or unclassified presentation at diagnosis, compared to standard clinical practice.
Oncimmune, headquartered at its laboratory facility in Nottingham, UK, has a discovery research centre in Dortmund, Germany and a partner representative office in Shanghai, China. Oncimmune joined the AIM Market of the London Stock Exchange in May 2016 under the ticker ONC.L.
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