Oncimmune Secures Major $1.5M Pharma Contract
Oncimmune secures $1.5M contract with top pharma firm, boosting FY24 revenue projection to £3.0M.
Oncimmune, a company that specialises in autoantibody
profiling, announced on Friday that it has won a new contract with a "top
ten global pharma company".According to Oncimmune, the contract, which had
a minimum $1.5 million worth, was awarded after an effective pilot project
completed for the undisclosed pharmaceutical company.The AIM-listed company
claimed that the deal represented one of its biggest contracts ever for
ImmunoINSIGHTS and showed that it could secure "significant repeat
business" from important clients.
According to Oncimmune, the company is confident that it
will fulfil its revenue projection of around £3.0 million for FY24 and achieve
profitability in FY25 due to the ongoing commercial momentum and anticipated
acceleration.Oncimmune said that, with the company's performance meeting
expectations, it has been in talks with IPF Management about changing the conditions
of its current loan arrangement, such as the capital repayment delay, to enable
further investment in the business's activities.
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