London Stock Exchange welcomes Oncimmune
London Stock Exchange today welcomes Oncimmune Holdings plc (“Oncimmune” or the “Company”) to the AIM market following its successful IPO.
Oncimmune is a leading early cancer detection company developing and commercialising its proprietary EarlyCDT® platform technology. Oncimmune has pioneered the development of autoantibody tests that can detect cancer up to four years earlier than other methods and can be applied to a very wide range of solid tumour types. The Company’s first product, EarlyCDT®-Lung, was launched in 2012, as a CLIA test in the USA and since then over 140,000 commercial tests have been sold. EarlyCDT®-Lung is also being used in the world's largest randomised trial for the early detection of lung cancer using biomarkers ever conducted, the National Health Service (NHS) Scotland ECLS study of 12,000 high-risk smokers.
Oncimmune raised £11 million through the placing and subscription of 8,461,539 new ordinary shares at a price of 130p per share. On admission the Company will have a market capitalisation of approximately £66.3 million. Oncimmune’s ordinary shares will trade under the symbol “ONC.L”.
Geoffrey Hamilton-Fairley, CEO of Oncimmune said: “This is an important day for Oncimmune. Our EarlyCDT®-Lung test can detect lung cancer up to four years earlier than other methods and our platform can be widely applied to other cancer types. The funds raised will allow us to expand into new markets, particularly Asia, and continue to develop our platform for other indications.
“We are excited to be joining the AIM market today and would like to thank our new and existing investors for their support and confidence in our EarlyCDT® platform technology.”
Zeus Capital Limited is the Nominated Adviser and Broker to the Company, the legal advisor is Peachey & Co LLP and Consilium Strategic Communications is the financial PR advisor to the Company.