Zeus advises cancer detection firm on IPO
MANCHESTER headquartered Zeus Capital has advised cancer detection firm Oncimmune on its listing on AIM today, which has given the firm a market capitalisation of around £66.3m.
Oncimmune Holdings, an early cancer detection company based in Nottingham, is developing and commercialising its proprietary EarlyCDT® platform technology.
It has pioneered the development of autoantibody tests that have the potential to detect cancer up to four years earlier than other methods and can be applied to a very wide range of solid tumour types.
Oncimmune’s first product, EarlyCDT®-Lung, was launched in 2012, as a CLIA test in the US and since then over 140,000 commercial tests have been sold.
The firm’s admission to AIM follows a successful placing and subscription raising £11m at 130p a share, for which Zeus was the nominated adviser and broker.
It will use the funds raised to develop an EarlyCDT®-Lung test ‘Kit’ and expand into new geographic markets, in particular Asia, and to develop EarlyCDT® tests for liver and ovarian cancer and expects to launch this within the next two years.
Geoffrey Hamilton-Fairley, chief executive of Oncimmune said:“The funds raised will allow us to expand into new markets, particularly Asia, and continue to develop our platform forother indications.
“We are excited to be joining the AIM market today andwould like to thank our new and existing investors for their support and confidence in our EarlyCDT® platform technology.”
