Oncimmune Holdings, the Nottingham life sciences group, has sold its wholly-owned subsidiaries, Oncimmune Limited (including the CE-marked IVD EarlyCDT Lung blood test, antibody platform and research and development pipeline) and Oncimmune Europe GmbH to Freenome Holdings for £13m.
Oncimmune will continue to operate its ImmunoINSIGHTS business, primarily through its subsidiary Oncimmune Germany GmbH.
Freenome is a US-based private biotechnology company with a comprehensive multiomics platform for the early detection and early intervention of cancer using a standard blood draw.
This acquisition of Oncimmune Limited will complement Freenome’s frontline screening efforts, both clinically and commercially. Oncimmune Limited’s pipeline of autoantibody targets for other cancer indications will augment Freenome’s multiomics platform with additional non-tumor-derived signals.
Dr Adam M Hill, CEO of Oncimmune, said: “We are delighted to pass the EarlyCDT technology platform and pipeline of autoantibody targets for other cancer indications to Freenome to advance Freenome’s multi-cancer early detection screening pipeline.
“We have confidence that in their hands and with our teams’ expertise, the full potential of the technology will be unlocked to the benefit of patients. Having now completed the sale, the group will focus on driving profitable growth in our ImmunoINSIGHTS pharma services business.
“Signing the MSA between ImmunoINSIGHTS and Freenome also adds Freenome as a new major client alongside 7 of the top 15 global pharma companies who use the ImmunoINSIGHTS platform.”
Mike Nolan, Chief Executive Officer of Freenome, said: “Oncimmune and Freenome share a deep commitment to patients and this acquisition is consistent with Freenome’s holistic solution to cancer detection.
“Oncimmune’s track record of translating innovative technologies into mainstream clinical use, now being integrated with Freenome’s platform and team, strengthens our multiomics approach to make an even greater impact for patients across a range of indications.”
