The University has sold 4.3 million shares in one of its most successful spin-out companies, Oncimmune, raising over £5 million to invest in research and teaching.
Oncimmune was founded on Professor John Robertson’s research, based in the Faculty of Medicine and Health Services. Following Robertson’s research project, Oncimmune developed a new approach to early diagnosis of primary cancers.
The company utilises antibody technology to detect a variety of solid cancers up to 4 years earlier than other tests. Their first test, EarlyCDT®-Lung, became a ground breaking blood test in detecting early signs of lung cancer. Oncimmune has since sold 150,000 commercial tests. The company is also planning to extend its work to the detection of other common cancers.
“It is great that the University invests in companies which improve the lives of so many people, in addition to raising funds for the University itself.”
The University acquired initial shareholding upon the formation of Oncimmune, followed by further investment as the company developed. The University retains 2.2 million shares, which will benefit it in the future if share price increases.
Emily Gamston, a third-year International Relations student, told Impact: “It is great that the University invests in companies which improve the lives of so many people, in addition to raising funds for the University itself.”
Abbie Davies
Featured image courtesy of ‘GotCredit’ via Flickr. License here.
Follow Impact News on Facebook.
