AIM Flotation for University Company

Oncimmune, a University of Nottingham spin-out company which specialises in the early detection of lung cancer, has been floated on AIM, a market operated by London Stock Exchange plc.

With an estimated market capitalisation of £66 million, the company has pioneered the development of autoantibody tests with the potential for early detection of cancer.

The anticipated £11m that Oncimmune will raise through the float will be used to complete the EarlyCDT®-Lung Kit, open up additional markets and broaden its product offering in liver and ovarian cancers, among others.

Since its launch into the US in 2012, over 140,000 EarlyCDT®-Lung Kit tests have been sold. The product is also being used by the National Health Service Scotland in the world’s largest randomised trial for the early detection of lung cancer, studying over 12,000 high-risk smokers.

Geoffrey Hamilton-Fairley, CEO of Oncimmune, commented: “Our EarlyCDT®-Lung test has the potential to 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 and would like to thank our new and existing investors for their support and confidence in our EarlyCDT® platform technology.”