Oxford BioMedica Raises £5.0 million

Oxford BioMedica plc announced today that it has raised £5.0 million, net of expenses, by way of an issue of 13.7 million New Ordinary Shares at a price of 38p per share. The net proceeds of the fund raising will be used primarily to support ongoing research and development and fund current and future clinical trials.

This fund raising follows a succession of positive news from the Company. Most recently, BioMedica announced new pre-clinical results from its proprietary LentiVectorT programme which the Company believes have significant implications for the treatment of cancer, and the strengthening of its cancer immunotherapy programme through the acquisition of rights to a novel human antibody, called OBAb2. There is also a good pipeline of new products coming through and the Company has built strong alliances with partners including Rhone-Poulenc Rorer and Modex SA, and has established a joint venture in Korea.

Commenting on the announcement, Alan Kingsman, Chief Executive of Oxford BioMedica said: "The recent strength in the market for the Company's shares has allowed us to raise additional working capital to fund our on-going research and clinical development programmes. This has been a very quick and cost-effective process for the Company because it has been able to make use of the authority to issue shares given at the last Annual General Meeting. We are delighted to welcome new institutional investors to our shareholder list."

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Notes to Editors

1. Oxford BioMedica plc
   Established in 1995, the Company specialises in the development and application of gene-based therapeutics using advance gene delivery technologies for the treatment of disease in the areas of Oncology, Viral Infection, Neurobiology and Genetic Deficiency. Oxford BioMedica plc was floated on the UK Alternative Investment Market of the London Stock Exchange in December 1996.

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