Oxford Biomedica PLC Business Update (4616E)
November 04 2015 - 02:00AM
UK Regulatory
TIDMOXB
RNS Number : 4616E
Oxford Biomedica PLC
04 November 2015
Business Update
Oxford, UK - 4 November 2015: Oxford BioMedica plc ("Oxford
BioMedica" or "the Group") (LSE: OXB), a leading gene and cell
therapy group, is pleased to announce the following business
update.
The Group continues to make good progress in line with its
strategy across the business model, leveraging its extensive patent
estate and know-how (intellectual property or "IP") and its
expertise and capabilities in the field of lentiviral vectors.
Recent developments across the three key components of the
Group's business model are summarised below. The Group has recently
introduced a numbering system for product development candidates
(Central nervous system products will be numbered OXB-1XX,
ophthalmology products OXB-2XX, and oncology candidates
OXB-3XX).
Strong progress with wholly-owned product pipeline
-- Preparations continue according to plan to start clinical
studies for OXB-102 (higher potency formulation of OXB-101
(ProSavin(R) )) and OXB-202 (EncorStat(R) ) in 2016.
-- OXB-201 (RetinoStat(R) ) - a meeting with investigators and
key opinion leaders at the American Academy of Ophthalmology
congress will take place in November 2015; the Group expects to
announce its intentions for OXB-201 in Q1, 2016.
-- OXB-301 (TroVax(R) ) - recruitment to the SKOPOS
(mesothelioma) study has now been completed and the data are being
analysed. Data publication in a peer-reviewed journal is planned
for 2016.
-- OXB-302, the 5T4 targeting CAR-T (Chimeric Antigen Receptor
modified T cell), is currently in research/pre-clinical development
and preliminary results have demonstrated proof of concept in an
industry standard model. Pre-clinical development is expected to
complete during 2016.
Process development and manufacturing via OXB Solutions
-- Batch manufacturing for Novartis continues to fully occupy Harrow House facility.
-- Harrow House facility GMP2 expansion and upgraded enabling
services are likely to complete in the first few months of
2016.
-- New Yarnton manufacturing facility has been handed over by
contractors to the Group - validation for GMP production is now
underway, and production is expected from early 2016 creating extra
capacity for Novartis, other potential customers and in-house
wholly-owned pipeline requirements.
-- Novartis confirmed on 27 October 2015 that the marketing
application of CTL019 for Acute lymphoblastic Leukaemia is still on
track for 2016.
-- Windrush Court facility laboratory construction well
underway, completion expected in the first few months of 2016.
Industry leading IP
-- As announced on 28 October 2015, GlaxoSmithKline PLC (GSK)
exercised an option to obtain a non-exclusive licence for two rare
orphan disease indications under Oxford BioMedica's LentiVector(R)
platform technology patents. This follows an agreement signed
between GSK and the Group in December 2013.
Financial position
-- Cash at end October 2015 of GBP14.9m (unaudited).
-- $10m loan tranche remains available for draw down from Oberland's $50m facility.
-- Revenue and other income in the first four months of the
second half of the year has been well ahead of first four months of
the first half of year.
John Dawson, Chief Executive Officer of Oxford BioMedica,
commented:
"I am pleased with the progress we are making in line with our
strategy. The expansion of our two manufacturing sites and the
laboratories at Windrush Court is progressing well and we are
looking forward soon to the approval of the new Yarnton site for
GMP manufacture. We are also working hard on preparing OXB-102 and
OXB-202 for their next clinical studies, which we are planning to
initiate in 2016, and identifying the development path for
OXB-201.
The Group continues to be recognised for its IP and expertise
and continues to have strong commercial relationships with Sanofi,
Novartis and GSK. I was pleased that GSK have recently
re-emphasised the value of our LentiVector(R) platform by
exercising their options to take a licence for two rare orphan
disease indications. Our revenue and other income is now beginning
to grow in line with our expectations with July to October being
well ahead of the first four months of the year."
- Ends -
For further information, please
contact:
Oxford BioMedica plc: Tel: +44 (0)1865
John Dawson, Chief Executive Officer 783 000
Tim Watts, Chief Financial Officer
Consilium Strategic Communications Tel: +44 (0)20
Mary-Jane Elliott/Matthew Neal/Chris 3709 5700
Welsh/Laura Thornton
Notes for editors
About Oxford BioMedica(R)
Oxford BioMedica plc (LSE: OXB) is a leading gene and cell
therapy Group with an unrivalled portfolio of gene therapy products
in development and a platform of exclusive and pioneering
technologies with which it designs, develops and manufactures
unique gene-based medicines for some of world's largest
pharmaceutical companies. Leveraging its proprietary LentiVector(R)
IP and gene delivery system technology platform and unique tumour
antigen (5T4), Oxford BioMedica is advancing its pipeline of seven
gene therapy products addressing diseases for which there are
currently no treatments or that are inadequately treated today,
including ocular and central nervous system disorders. OXB
Solutions, the Group's industry-leading manufacturing and
development business, provides services to collaborators and
partners working in gene and cell therapy, including Novartis and
Immune Design Corp. In addition, the Group has licenced products
and IP to Sanofi, Pfizer, GlaxoSmithKline, MolMed, Sigma-Aldrich,
Biogen Idec, Emergent BioSolutions and ImaginAb. Further
information is available at www.oxfordbiomedica.co.uk and
www.oxbsolutions.co.uk.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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