LONDON--Oxford Biomedica PLC (OXB.LN), a biopharmaceutical company, Tuesday said it will regain the worldwide rights to RetinoStat, a macular degeneration treatment, after Sanofi (SNY) decided not to develop it beyond a Phase I study.

MAIN FACTS:

-Sanofi has confirmed that this decision is not linked to unexpected results based on an analysis of the data from the study. .

-Indicative results from study seen towards end-2014

-Shares in Oxford Biomedica down 12.5% at 0857 GMT

-Write to Ed Ballard at ed.ballard@wsj.com; Twitter: @edmballard

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