Interim Management Statement

RNS Number : 0510R
Oxford Biomedica PLC
14 November 2012
 



  

Oxford BioMedica Interim Management Statement

 

Oxford, UK - 14 November 2012: Oxford BioMedica ("Oxford BioMedica" or "the Company") (LSE: OXB), the leading gene-based biopharmaceutical company, today publishes its interim management statement for the period from 1 July to 13 November 2012.

 

OPERATIONAL HIGHLIGHTS

LentiVector® platform

Ocular programmes(gene-based therapies targeting vision loss): partnered with Sanofi

·      RetinoStat® and StarGen™ clinical studies received positive review by Data Safety Monitoring Board

·      Second RetinoStat® clinical site initiated at the Oregon Health and Science University, Portland (USA)

·      Final RetinoStat® patient cohort recruiting across two clinical sites (n=9, confirmatory dose level)

·      UshStat® clinical study received funding award of US$125,000 from the Foundation Fighting Blindness

 

Manufacturing, alliances and intellectual property (IP): continued commercial focus

·      Successful launch of a new online portal - OXB Solutions - to showcase leading viral vector GMP manufacturing competences: www.oxbsolutions.co.uk

·      New collaboration with Immune Design Corp. to leverage expertise in lentiviral vector clinical development

·      Leading IP position strengthened by key US patent relating to the delivery of RNAi using lentiviral vectors

 

5T4 tumour antigen platform

TroVax® (therapeutic cancer vaccine): investigator-led Phase II programme underway

·      First patient treated in Phase II study for TroVax® in colorectal cancer led by Cardiff University, Wales (UK)

·      Initial data trends from US Phase II trial in hormone refractory prostate cancer (HRPC) indicate that the Company's pre-treatment biomarker can identify patients most likely to benefit from treatment with TroVax®

·      Strategic decision to close the US Phase II HRPC trial and focus on collaborative Phase II studies

 

Targeted antibody therapy for cancer: partnered with Pfizer

·      Further presentations of the 5T4 antibody drug conjugate (ADC) programme at key industry conferences:

̶    Antibody-Drug Conjugates, Bispecifics & Empowered Antibodies Summit in August 2012

̶    The International Society for the Study of Xenobiotics in October 2012

 

FINANCIAL REVIEW

The Company's net cash1 balance at 30 June 2012, as stated in the interim report, was £6.6 million (unaudited).  The cash position has since been strengthened by £10.1 million net proceeds from a fundraising which completed in July 2012, in addition to a total £1.9 million option exercise payment from Sanofi for StarGen™ and UshStat®.  At 31 October 2012, the Company had a net cash1 balance of £14.4 million (unaudited).

 

1.     Cash, cash equivalents and available for sale investments

 

OUTLOOK

Oxford BioMedica remains focused on delivering the objectives set across its core ophthalmology portfolio, further developing its manufacturing capabilities and securing new industry alliances for its high-value products and intellectual property.   

 

John Dawson, Chief Executive Officer of Oxford BioMedica, said: "The commercial prospects for our pioneering technologies continue to improve. Our priority remains to secure a strong future for the Company and, as we continue to deliver operational progress, we are increasingly well-placed to build a financially self-sustaining business via organic growth, new alliances and strategic corporate activity."

 

-Ends-

 

For further information, please contact:


Oxford BioMedica plc:

Lara Mott, Head of Corporate Communications

Tel: +44 (0)1865 783 000

 

Media Enquiries:

Mary Clark/Sarah Macleod/Claire Dickinson

M:Communications

 

Tel: +44 (0)20 7920 2360

 

Notes to editors

 

1. Oxford BioMedica®

Oxford BioMedica plc (LSE: OXB) is a biopharmaceutical company developing innovative gene-based medicines and therapeutic vaccines that aim to improve the lives of patients with high unmet medical needs. The Company's technology platform includes a highly efficient LentiVector® gene delivery system, which has specific advantages for targeting diseases of the central nervous system and the eye; and a unique tumour antigen (5T4), which is an ideal target for anti-cancer therapy. Through in-house and collaborative research, Oxford BioMedica has a broad pipeline with current partners and licensees including Sanofi, Pfizer, GlaxoSmithKline, MolMed, Sigma-Aldrich, Biogen Idec, Emergent BioSolutions, ImaginAb and Immune Design Corp. 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
 

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