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Oncimmune makes 'good progress' against commercialisation plans
Early cancer detection company Oncimmune Holdings said it has continued to make "good progress" against its commercialisation plans since its interim results on 13 February.
In the US, Oncimmune has kicked off a marketing programme to support its distributors, with initial data suggesting that the approach "should lead to enhanced sales".
However, the firm noted there was "considerable further learning" to be made from its various experimental approaches before it could reach a "level of confidence" that would enable it to invest more heavily in this direct marketing approach.
In its pilot distribution partnership with a "major US pulmonology sales force", results were "very positive" with the test performing as expected.
The use of its EarlyCDT-Lung test led to many cancers being detected earlier and physicians from the pilot have continued ordering the test as part of their daily practice.
Oncimmune now has a total of 14 agreements for its EarlyCDT platform in Europe, Asia Pacific and South America with a combined total minimum sales commitment of over £28.8m.
Chief executive Geoffrey Hamilton-Fairley said: "The recent period has seen us continue our strong progress in delivering on our strategy of generating revenues across multiple products, regions and with different partners."
"Oncimmune is trading in line with market expectations and I believe we are well placed to continue to execute our business strategy and deliver value in the medium and long term," he concluded.
As of 1440 BST, Oncimmune shares had collected 3% to 128.75p.