Oncimmune’s strategic pivot aims for robust growth in 2024 [Video]

Oncimmune Holdings PLC (AIM:ONC) CEO Martin Gouldstone joins Proactive’s Stephen Gunnion with highlights of the company’s 2023 performance, which included its strategic decision to focus on its ImmunoINSIGHTS platform.

A significant development was the sale of its early lung cancer detection business to US biotech company Freenome, generating substantial funds. This capital was utilised partly to reduce existing company debt and, importantly, established a five-year master service agreement (MSA) with Freenome, guaranteeing Oncimmune a minimum of £1.3 million in service revenues on a use-it-or-lose-it basis, with a two-year break clause. This deal not only provided immediate financial benefit but also assured a steady revenue stream for at least two years.

Gouldstone emphasized the company’s focus on its ImmunoINSIGHTS service platform, highlighting its commercial and scientific potential. Since his tenure began in August last year, Gouldstone said he has been dedicated to maximizing the platform’s commercial impact and scientific capabilities.

The strategic redirection towards new …