Oncimmune Holdings (LON:ONC) has inked an antigen targeting collaboration to support drug development alongside an unnamed leading US biopharmaceutical company.
The deal will see the immunodiagnostics group utilise its proprietary biomarker technology, SeroTag®, to identify antigen targets from selected human immunoglobulin antibodies.
The US biopharmaceutical company, whose name remains undisclosed, is developing novel therapies based on the human immune response, this morning’s statement detailed.
SeroTag® is based on one of the largest in-house protein libraries and a growing repository of disease data for indications including, autoimmune diseases and cancer.
Oncimmune said its approach will help address challenges currently hindering the broader application of both cancer immunotherapies and treatments for autoimmune diseases.
Shares in Oncimmune Holdings were trading 2% higher at 76.5p on Tuesday afternoon.
The agreement will allow the firm, or a commercial partner, to develop a companion diagnostic for each candidate that is validated.
Adam M Hill, Chief Executive of Oncimmune acknowledged this latest collaboration as part of a growing pipeline of commercial projects outlined in the group’s February results statement.
He added that the deal validates last year's acquisition of Oncimmune Germany, previously ‘Protagen Diagnostics AG,’ and moves the group’s commercial proposition “beyond early cancer detection into supporting the process of drug development and adoption.”
“Antigen targeting has always been a focus of our three-year forward strategy, and I am now delighted to see our platform used in this endeavour,” he said.
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