Notts cancer detection company to float

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Nottingham-based cancer detection company Oncimmune Holdings is intending to float on the London Stock Exchange’s AIM market.

The company is developing and commercialising its propriety EarlyCDT® platform technology, which is used for the early detection of lung cancer. It was first launched in the US in 2012; Oncimmune now intends to expand into new geographical markets, in particularly Asia.

Oncimmune expect to begin trading on AIM next mount with a market capitalisation of £66 million. The flat will raise £11 million to support the validation and launch of the EarlyCDT® for liver and ovarian cancers.

Geoffrey Hamilton-Fairley, CEO of Oncimmune, said: “The early detection of cancer is a critical issue for cancer. Five-year survival for lung cancer, the biggest cancer killer, averages around 17% for all stages, but for patients’ diagnoses early, the 5-year survival rate is as high as 90%.

“Our EarlyCDT® platform technology is proven and we believe Oncimunne is now at an inflexion point and poised for significant growth”.