Oncimmune Holdings plc (LON:ONC), a leading early cancer detection company developing and commercialising its proprietary EarlyCDT® platform technology, today announced it has signed an exclusive agreement for distribution of its EarlyCDT®-Lung test in Poland with SmartGene, a Polish In Vitro Diagnostic (IVD) distribution company with almost 20 years of experience in laboratory and molecular diagnostics & life sciences.
The agreement allows for the sale of the CE marked EarlyCDT®-Lung kit as a screening test and for the risk assessment of indeterminate pulmonary nodules. The agreement is for an initial term of three years and includes minimum sales commitments of £900,000 over the term of the contract. First sales are expected to commence in early 2018.
Poland is a key European market for EarlyCDT®-Lung, as the country has the highest incidence of lung cancer on the European continent with over 10 million smokers. There are also over one million CT scans performed each year, creating a significant need for risk assessment of indeterminate pulmonary nodules.
Geoffrey Hamilton-Fairley, CEO of Oncimmune Holdings plc, commented: “This distribution agreement, is our fourth in Europe and brings the total minimum sales commitments to £1.4m. We anticipate the signing of a number of further agreements in Europe, and beyond, in the coming months as we continue to deliver on our strategy of generating revenues from our platform technology through multiple products, regions and partners.”
