Oncimmune signs three distribution deals covering Scandinavia

Early cancer detection technology company Oncimmune Holdings announced on Tuesday that it has signed three new exclusive distribution agreements for its EarlyCDT-Lung test with LabLab, Diuvita Diagnostics and XboXLab in Denmark, Norway and Sweden respectively.

The AIM-traded firm said the agreements allowed for the sale of the CE-marked kit to local laboratories and as a central laboratory test.

It said the three agreements were for an initial term of three years, and included minimum sales commitments of approximately £0.5m.

First sales were expected to commence late in 2017 and early in 2018.

“These distribution agreements, which we anticipate to be the first of many across Europe, give us full coverage of the Scandinavian region where we have received a great deal of interest in our EarlyCDT-Lung test,” said Oncimmune CEO Geoffrey Hamilton-Fairley.

“As part of the strategy indicated at the time of our IPO, we outlined our plan to grow into multiple regions with multiple products and these latest agreements not only show our commitment to that strategy but also indicate the strength and potential of our EarlyCDT-Lung test and kit.”