Oncimmune Holdings plc (LON:ONC), a leading early cancer detection company developing and commercialising its proprietary EarlyCDT(R) platform technology, today announced it has signed an exclusive agreement for distribution of its EarlyCDT(R)-Lung test in Iran with Tarvand Sina Tajhiz Co., an Iranian provider of test services and kits to the medical community.
The agreement allows for the sale of the CE marked EarlyCDT(R)-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 GBP1.1 million over the term of the contract. First sales are expected to commence in the second half of 2018.
Geoffrey Hamilton-Fairley, CEO of Oncimmune, commented: “This distribution agreement is our seventh in the Asia Pacific region and now brings the minimum sales commitment in this region to approximately GBP7.6 million over the next five years. In the coming months we expect to sign a number of further agreements in the region, and beyond, as we continue to deliver on our strategy of generating revenues from our platform technology through multiple products, regions and partners.”
