OXFORD, England, February 15, 2018 /PRNewswire/ --
Oxford BioMedica plc (LSE:OXB) ("Oxford BioMedica" or "the Group"),a leading gene and cell therapy group, today announces that it has completed a major new collaboration & licence agreement with Bioverativ Inc. for the development and manufacturing of lentiviral vectors to treat haemophilia. The agreement includes
Under the terms of the agreement, Oxford BioMedica will receive a $5 million upfront payment from Bioverativ. Oxford BioMedica is also eligible to receive various milestone payments, potentially worth in excess of $100 million, and undisclosed royalties on net sales of Bioverativ's lentiviral vector haemophilia products. Bioverativ will also fund process development and scale-up activities for its lentiviral vector haemophilia products at Oxford BioMedica. The agreement also allows for the parties to put in place a clinical supply agreement for GMP manufacturing of haemophilia products at Oxford BioMedica.
Commenting on the announcement, John Dawson, Chief Executive Officer of Oxford BioMedica, said: "Today's news demonstrates the value of our LentiVector Enabled platform and our leading capabilities and reputation in the industrial scale-up for lentiviral vectors for clinical and commercial supply. Bioverativ's investment in haemophilia gene therapy underlines the potential of lentiviral vectors for use for in vivo gene therapy. This new deal, potentially worth in excess of $100m, demonstrates Oxford BioMedica's strategy of building multiple partnerships with leaders in their therapeutic categories and will support the Group's continued growth. Oxford BioMedica is recognised as a world leader in the field of development and manufacturing of lentiviral vectors and we are delighted to be supporting Bioverativ in the development of gene therapy products to treat haemophilia."
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Notes to editors
About Oxford BioMedica®
Oxford BioMedica (LSE:OXB) is a leading gene and cell therapy company focused on developing life changing treatments for serious diseases. Oxford BioMedica and its subsidiaries (the "Group") have built a sector leading lentiviral vector delivery platform (LentiVector®) through which the Group develops in vivo and ex-vivo products both in-house and with partners. The Group has created a valuable proprietary portfolio of gene and cell therapy product candidates in the areas of oncology, ophthalmology and CNS disorders. The Group has also entered into a number of partnerships, including with Novartis, Sanofi, GSK, Bioverativ, GC LabCell and Immune Design, through which it has long-term economic interests in other potential gene and cell therapy products. Oxford BioMedica is based across several locations in Oxfordshire, UK and employs more than 300 people. Further information is available at http://www.oxfordbiomedica.co.uk.
For further information, please contact: Oxford BioMedica plc: John Dawson, Chief Executive Officer Stuart Paynter, Chief Financial Officer Tel: +44(0)1865-783-000 Financial and corporate communications enquiries: Consilium Strategic Communications Mary-Jane Elliott/Matthew Neal/Philippa Gardner/Laura Thornton Tel: +44(0)20-3709-5700 Peel Hunt (Joint Corporate Brokers): James Steel Christopher Golden Tel: +44(0)20-7418-8900 WG Partners (Joint Corporate Brokers): David Wilson Claes Spang Tel: +44(0)20-3705-9321
SOURCE Oxford BioMedica plc
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