Press releases

Oxford BioMedica plc Interim Results for the Six Months Ended 30 June 2011

 

Click here to download the full 2011 interim results statement.
Click here to download the 2011 interim results slide deck.

Oxford, UK – 31 August 2011: Oxford BioMedica plc (“Oxford BioMedica” or “the Company”) (LSE: OXB), the leading gene-based biopharmaceutical company, today announces its unaudited interim results for the six months ended 30 June 2011.  Year to date highlights include:

OPERATIONAL HIGHLIGHTS:
LentiVector ® platform
ProSavin®: Parkinson’s disease

  • Positive six-month data from third patient cohort of on-going Phase I/II trial presented at ASGCT 14th Annual Meeting demonstrating 43% average motor function improvement with a 2x dose
  • Improvements across patient diary measures further underline potential for ProSavin®to address the motor symptoms of Parkinson’s disease

Ocular gene therapies: partnered with Sanofi

  • RetinoStat® Phase I study initiated for treatment of “wet” age-related macular degeneration
  • StarGen™ Phase I/IIa study initiated in the US for treatment of Stargardt disease
  • US RAC approval received for UshStat® Phase I/IIa study

Manufacturing

  • Acquisition of Oxford manufacturing facility for £1.9 million completed in February 2011, with re-commissioning process on-track

5T4 tumour antigen platform
TroVax® (MVA-5T4): therapeutic cancer vaccine

  • Further TRIST Phase III analyses published in Cancer Immunology, Immunotherapy identifying specific immune response surrogate algorithm
  • Collaborators at Cardiff University and Velindre Cancer Centre, Wales received MHRA and GTAC approval for Phase II study in mesothelioma

Targeted antibody therapy: for cancer

  • Collaboration with Pfizer broadened to include in vitro diagnostic use of 5T4 antibodies
  • New research collaboration with ImaginAb, Inc. to engineer an in vivo diagnostic imaging agent

FINANCIAL HIGHLIGHTS1:

  • Fundraising of £20.0 million before expenses, completed on 10 January 2011
  • Revenue of £5.0 million (H1 2010 £5.3 million)
  • Research & Development costs of £11.8 million, pre-exceptional £8.7 million (H1 2010 £8.0 million)
  • Net loss of £8.1 million, pre-exceptional £5.0 million (H1 2010 £2.9 million)
  • Net cash burn2 of £10.7 million (H1 2010: £9.4 million)
  • Net cash3 of £20.2 million (H1 2010: £16.3 million)
  •  Financial resources sufficient to fund operations into Q1 2013

1 Unaudited results
2 Net cash generated by/used in operating activities plus sales and purchases of non-current assets
3 Cash, cash equivalents and available for sale investments

POST PERIOD END HIGHLIGHTS:

  • Collaborators at Cardiff University received MHRA approval for TroVax® Phase II study in colorectal cancer in July 2011
  • StarGen™ CTA approval received in July 2011 for second clinical site in France
  • Positive interim review of fourth ProSavin® patient cohort by DMC  in August 2011 with favourable safety profile at the highest (5x) dose

John Dawson, Chief Executive Officer at Oxford BioMedica, said: “We have made good progress across our core technology platforms during the period. In particular, the ProSavin® Phase I/II data set is very promising and we have broadened our clinical development pipeline from two to four programmes with lead ocular candidates RetinoStat® and StarGen™, partnered with Sanofi, entering Phase I/II development.  With tight fiscal controls in place we have sufficient financial resources to deliver our clinical results and reach our milestone objectives throughout 2012.  We remain committed to building a successful biopharmaceutical company founded on the development and commercialisation of novel gene-based medicines.”

-Ends-

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