THE
INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE
COMPANY TO CONSTITUTE INSIDE INFORMATION STIPULATED UNDER THE
MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR") AND THE RETAINED
UK LAW VERSION OF MAR PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU
EXIT) REGULATIONS 2019 (SI 2019/310) ("UK MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION
SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN.
Oncimmune Holdings plc
("Oncimmune" or the
"Company", together with its subsidiary "the Group")
Intention to Appoint Administrators and
Suspension of Trading
Oncimmune Holdings plc (AIM: ONC.L) today
announces, further to the announcement made on 24 February 2025,
that despite a comprehensive sale process and positive interest in
the business it has unfortunately not been possible to secure a
buyer for the Company's trading subsidiary, Oncimmune
Germany GmbH. It has also not been possible to raise the additional
capital required to meet the Company's short term funding
needs.
In light of this, and after extensive
consideration of the Company's current financial situation as well
as the resulting creditor position, the Board has regrettably
concluded that there are no further options available to the
Company to extend its cash runway and that the Group should
therefore be placed into administration in order to preserve the
value of the business for creditors. Accordingly, a notice
will be filed with the Court today notifying the directors'
intention to appoint Managing Directors from Alvarez
& Marsal Europe LLP as administrators of the Company as
soon as reasonably practicable.
Consequently, the Company has requested a suspension
in the trading of its ordinary shares on AIM, which will become
effective from 7.30am on 17 March 2025.
Further announcements will be made in due
course.
For further
information:
Contact
Alvarez & Marsal :
projectCotton@alvarezandmarsal.com
contact@oncimmune.com
Cavendish
Capital Markets Limited (Nominated Adviser and Joint
Broker)
Geoff Nash, Callum Davidson, Trisyia Jamaludin
(Corporate Finance)
Nigel Birks (Life Science Specialist
Sales)
Ondraya Swanson (Corporate
Broking)
+44 (0) 20 7220 0500
Zeus (Joint
Broker)
Dominic
King
+44 (0)20 3829 5000
About Oncimmune
Oncimmune is a precision medicine
company, specialising in analysing immune interactions through the
autoantibody profile. Taking a platform approach to generating
insights, Oncimmune is partnering with global pharmaceutical and
biotech companies, as well as contract research organisations
(CROs) to discover novel biomarkers for the development of more
targeted and effective therapies across many immune-mediated
diseases. Our mission at Oncimmune is to enable precision medicine.
We help our partners to discover novel biomarkers, drug targets and
predict treatment efficacy through the application of our platform.
We are able to do this by deploying our world class scientific team
and our cutting-edge technology platform, built on years of
experience in the field. Our aim is to make this an essential tool
in drug discovery and development.
Oncimmune is headquartered in the
UK, with its discovery and development facility based in Dortmund,
Germany and a business development team based in the US and
Europe.
For more information,
visit www.oncimmune.com
