-- Phase I clinical trial for 5T4-targeted antibody therapy underway --
Oxford, UK – 28 August 2013: Oxford BioMedica (“Oxford BioMedica” or “the Company”) (LSE: OXB), the leading gene-based biopharmaceutical company, today announced that a US$1 million milestone payment from Pfizer Inc. has been triggered by the entry of PF-06263507, a 5T4-targeted investigational antibody therapy, into human clinical trials.
Under the terms of the agreement with Pfizer, Oxford BioMedica licensed global rights to develop antibodies targeting the 5T4 tumour antigen for the treatment of cancer to Wyeth (acquired by Pfizer in 2009) in 2001. Pfizer also has non-exclusive rights for the diagnostic use of 5T4 antibodies, including an option for commercialisation of a 5T4-based diagnostic. The potential value of Oxford BioMedica’s collaboration with Pfizer is worth up to an additional US$27 million, which comprises future milestone payments and licence option fees that are subject to the achievement of certain project objectives.
John Dawson, Chief Executive Officer of Oxford BioMedica, said: “The 5T4 tumour antigen is an important target for novel anti-cancer therapeutics and the cancer targeted therapies market represents a significant opportunity. We look forward to the future progress of PF-06263507.”
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, 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 250 people. Further information is available at www.oxfordbiomedica.co.uk.
For further information please contact
Oxford BioMedica plc
John Dawson, Chief Executive Officer
Tim Watts, Chief Financial Officer
Tel: +44 (0)1865 783 000
Consilium Strategic Communications – Media Enquiries
Mary-Jane Elliott/Matthew Neal/Philippa Gardner/Laura Thornton
Tel: +44 (0)20 3709 5700
Jefferies (Corporate Broker)
Gil Bar-Nahum/Simon Hardy/Lee Morton/Max Jones/Nicholas Moore
Tel: +44 (0)20 7029 8000