Interim Management Statement

RNS Number : 7700G
Oxford Biomedica PLC
18 May 2011
 

 

OXFORD BIOMEDICA PLC

INTERIM MANAGEMENT STATEMENT

 

Oxford, UK - 18 May 2011: Oxford BioMedica plc ("Oxford BioMedica" or "the Company") (LSE: OXB), a leading gene therapy company, today publishes its interim management statement for the period from 1 January to 17 May 2011.

 

PIPELINE UPDATE:

 

LENTIVECTOR® PLATFORM TECHNOLOGY

 

ProSavin® (gene-based therapy for Parkinson's disease): development update

·      First three patients in fourth cohort (5x dose) treated

Initial results due H2 2011 post-review by independent Data Monitoring Committee

·      Recent six-month assessment of third cohort (2x dose) indicates highest efficacy to date

Full data set to be presented at the American Society of Gene & Cell Therapy 14th Annual Meeting on 21 May 2011

 

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

·      RetinoStat®: first dose cohort of three patients on track with initial results expected H1 2012

·      StarGen™: Phase I/IIa study on track to commence Q2 2011

·      UshStat®: US Recombinant DNA Advisory Committee approval received May 2011

 

Manufacturing: to support LentiVector® platform clinical programmes

·      £1.9 million acquisition of UK production facility in Oxford completed in February 2011

 

5T4 TUMOUR ANTIGEN PLATFORM

 

TroVax® (therapeutic cancer vaccine): Phase II collaborative studies update

·      Mesothelioma study with Cardiff University and Velindre Cancer Centre

Favourable Gene Therapy Advisory Committee (GTAC) opinion and approval from Medicines and Healthcare products Regulatory Agency (MHRA) received April 2011, study initiation expected H1 2011

·      Colorectal cancer study with Cardiff University

Protocol submitted to GTAC and MHRA, study initiation expected H2 2011

·      Ovarian cancer study with UK National Cancer Research Network (NCRN)

Protocol submitted to GTAC, study initiation expected H2 2011

 

Targeted Antibody Therapy (cancer): partnered with Pfizer

·      Collaboration broadened in May 2011 to secure in vitro diagnostic rights for a 5T4-targeted antibody therapy in preparation for an Investigational New Drug (IND) application

 

FINANCIAL REVIEW

The Company's net cash balance at 31 December 2010, as previously reported, was £12.3 million.  The placing and open offer which closed on 10 January 2011 raised £18.4 million net of expenses.  At 31 March 2011 the Company had a net cash1 balance of £24.6 million (unaudited). 

 

OUTLOOK

With key pipeline development milestones expected over the next 12 months, Oxford BioMedica remains focused on advancing its core development programmes.  The Company looks forward to the results from the higher (5x) dose of ProSavin® later this year, the initiation of multiple Phase II studies for TroVax® by its clinical oncology collaborators and the continued progress of the ocular Phase I/II programme, partnered with sanofi-aventis.  Oxford BioMedica's new manufacturing facility is also on track to be fully operational in H1 2012 to support its five LentiVector® platform clinical programmes. 

 

John Dawson, Chief Executive Officer of Oxford BioMedica, said: "We continue to drive progress across our ProSavin®, ocular and TroVax® clinical programmes and remain very encouraged by the quality of our data.  With strong partners in sanofi-aventis and Pfizer, it remains a strategic priority to seek the best collaborations for our products in order to maximise value and bring these novel gene-based therapies to market."

 

-Ends-

 

For further information, please contact:


Oxford BioMedica plc:

John Dawson, Chief Executive Officer

Andrew Wood, Chief Financial Officer

Lara Mott, Head of Corporate Communications

 

Tel: +44 (0)1865 783 000



Singer Capital Markets Limited

Shaun Dobson/Claes Spång

Tel: +44 (0)20 3205 7500

 

Media/Financial Enquiries:

Emma Thompson/Katja Toon/Amber Bielecka

M:Communications

 

Tel: +44 (0)20 7920 2345

 

 

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 and its partners include sanofi-aventis, Sigma-Aldrich and Pfizer.  Further information is available at www.oxfordbiomedica.co.uk.


This information is provided by RNS
The company news service from the London Stock Exchange
 

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