Oncimmune has signed an agreement with lung cancer diagnostic solutions company Biodesix to unlock the full potential of the EarlyCDT Lung blood test in the US.
EarlyCDT Lung validates the levels of seven autoantibodies to tumour-associated antigens and is capable of detecting every type of lung cancer at all stages of the disease (I-IV).
Under the terms of the exclusive partnership agreement, Biodesix will commercialise the test, while Oncimmune supplies the product.
The agreement, which accelerates the organic growth of EarlyCDT Lung, also involves the sale of Oncimmune’s US subsidiary’s operations including the CLIA laboratory.
Oncimmune CEO Dr Adam M Hill said: “In October 2018, I undertook to bring to investors a strategic partnership which fully realises the value of EarlyCDT Lung in the US, exhibiting a critical number of sales people, exclusive focus on a pulmonology sales point, and a complementary product portfolio.
“This will be the 11th agreement we have signed for EarlyCDT Lung in the last 12 months, reinforcing a strong track record of delivering against the strategy of commercialising the EarlyCDT portfolio.”
Oncimmune will continue its existing US activities in exchange for a monthly payment from Biodesix 1 until November this year, when Biodesix will acquire the assets of Oncimmune’s US operations and assume the full operating costs.
Biodesix will also commercially exploit the EarlyCDT Lung potential as a screening indication in the US.
Furthermore, Oncimmune will collaborate with Biodesix on research and development activities to fully leverage EarlyCDT Lung in the US as well as in other major lung cancer markets.
Over the next five years, the agreement represents a value to Oncimmune of up to $28m.