Cancer detection firm Oncimmune makes Germany acquisition
March 22, 2019
Nottingham-based cancer detection company Oncimmune Holdings has acquired a business in Germany for a total consideration of up to £4.11m.
Dortmund-based Protagen Diagnostics AG develops precision medicine and patient stratification tools for pharmaceutical multinationals in both immuno-oncology and autoimmune disease.
These tools support drug development, improve treatment strategies and patient management.
Oncimmune has said it intends to retain Protagen’s scientific team and the Dortmund laboratory to operate as its discovery research centre.
It added that Oncimmune’s Nottingham and Kansas facilities will continue to be responsible for the enlarged group’s product development, validation and production.
Chief executive Adam Hill said: “The acquisition of Protagen will accelerate Oncimmune’s product discovery process, will grow our library of known and novel immunogenic proteins, and will underpin the group’s ability to deliver value through the development of complementary diagnostics, a key component of our three-year forward strategy.
“Protagen’s biomarker discovery expertise and high throughput antigen screening technology are all highly synergistic to Oncimmune’s current capabilities. I look forward to working with our new colleagues to grow our company.”
By Jon Robinson
Source: Insider Media