Press releases

Oxford BioMedica plc Interim Results for the Six Months Ended 30 June 2012

Click here to download the full 2012 interim results statement.
Click here to download the 2012 interim results presentation.
Click here to listen to the audio replay file.

Oxford, UK – 31 August 2012: 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 2012.  Year to date highlights include:

OPERATIONAL HIGHLIGHTS:

  • Revenue-generating ocular partnership with Sanofi progressing well
    - Options exercised for StarGen™ and UshStat® for a total of US$3 million
    - First RetinoStat® results indicate sustained, dose-related protein expression
  • Successful MHRA inspection for specialist LentiVector® platform manufacturing facility
    - Certification attained to perform GMP manufacturing activities in support of clinical supply 
    -Support for existing programmes with potential to secure future partnerships
  • ProSavin® Phase I/II study successfully met primary endpoint: ProSavin® is safe, well-tolerated and mediates long-term improvement of motor function
    - Non-clinical programme for product optimisation on track
  • Collective LentiVector® platform clinical data support treatment of chronic disease
    - Over 33 patients treated to date across the ocular and Parkinson’s disease programmes
    - More than 50 years’ worth of patient safety data accumulated
  • Industry collaborations validate Oxford BioMedica’s 5T4 tumour antigen technology
    - 5T4-targeted diagnostic for cancer imaging demonstrates proof-of-concept with ImaginAb
    - Multiple presentations of 5T4-ADC programme by Pfizer at key industry conferences

FINANCIAL HIGHLIGHTS1:

  • Revenue of £4.4 million (H1 2011 £5.0 million), including £1.9 million from the exercise of Sanofi options
  • Research & Development costs of £6.9 million (H1 2011 £11.8 million: £8.7 million pre-exceptional, £3.1 million exceptional)
  • Net loss of £4.9 million (H1 2011 £8.1 million, pre-exceptional £5.0 million)
  • Net cash burn2 of £7.8 million (H1 2011 £10.7 million)
  • Net cash3 of £6.6 million (31 December 2011: £14.3 million)

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:

  • Fundraising of £11.6 million completed in July 2012; net proceeds £10.1 million
    - Financial resources sufficient to fund operations into Q1 2014
  • First patient treated in Phase II collaborative study for TroVax® in colorectal cancer
  • Funding award from the Foundation Fighting Blindness for ongoing UshStat® Phase I/IIa study

John Dawson, Chief Executive Officer at Oxford BioMedica, said: “Oxford BioMedica has continued to deliver on its objectives during 2012; reporting pipeline progress, the successful commissioning of our specialist manufacturing plant and a further endorsement from our partner, Sanofi, to support the ophthalmology portfolio. 

“Following the recent fundraising of £11.6 million, we are focused on building a financially self-sustaining company operating in high value, fast growing markets, whilst paying close attention to cost management.  We look forward to reporting further progress in the second half of the year.”

-Ends-

Notes to editors

About Oxford BioMedica

Oxford BioMedica (LSE:OXB) is a leading gene and cell therapy group 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®), which the Group leverages to develop 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, Bioverativ, Sanofi, Axovant, Orchard Therapeutics, Boehringer Ingelheim/UK Cystic Fibrosis Gene Therapy Consortium/Imperial Innovations, 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 320 people. Further information is available at 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/Olivia Manser/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