The University of Nottingham has sold 4.3 million shares in one of its spin-out companies, Oncimmune, raising over £5 million to support the University’s research and teaching activities.
Oncimmune is a leading early cancer detection company developing and commercialising its proprietary test for early cancer detection: EarlyCDT®. The company has pioneered the development of autoantibody tests that can detect cancer up to four years earlier than other methods and can be applied to a very wide range of solid tumour types.
The earlier identification of cancer leads to better outcomes, less aggressive treatments and increased survival rates. Oncimmune’s first product, EarlyCDT®-Lung, was launched in 2012 and since then over 150,000 commercial tests have been sold.
The company was founded on the research work of Professor John Robertson, a research active clinical oncologist, based in the Faculty of Medicine and Health Sciences.
His research project led to the formation of the spin-out company in 2002, which was publicly listed on AIM in 2016. The University's shares in Oncimmune were acquired through an initial shareholding at formation of the spin-out, followed by further investment from the University over the intervening years.
The sale of Oncimmune shares is in line with University policy and has generated a substantial return. In addition, the University retains 2.2 million shares which will allow the University to benefit if the share price increases further as the company continues to develop.
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Posted on Thursday 8th February 2018