Oncimmune Holdings plc (LON: ONC), a leading global immunodiagnostics group, has announced it has drawn down the second tranche of its previously announced credit facility of €8.5 million with IPF Management SA.
Oncimmune drew down an initial €5.0 million on completion at the 20th September 2019. The second tranche of €3.5 million was drawn down on 18th October 2019.
Oncimmune Holdings was founded in 2002 and launched its platform technology in 2009, followed by its first commercial tests, EarlyCDT Lung and EarlyCDT Liver. To date, over 158,000 tests have been performed for patients worldwide. EarlyCDT Lung was also used in what is believed to be the largest randomised controlled trial for the early detection of lung cancer using biomarkers, the successful National Health Service (NHS) ECLS trial of 12,209 high-risk smokers in Scotland which demonstrated EarlyCDT Lung reduced the incidence of patients with late-stage lung cancer or unclassified presentation at diagnosis, compared to standard clinical practice.