OXFORD
BIOMEDICA
PROGRESS MADE IN NERVE REPAIR PROGRAMME - ISSUE OF SHARES
TO KING'S COLLEGE LONDON
Oxford,
United Kingdom - 13 December 2001. Oxford BioMedica plc
(LSE:OXB) ("BioMedica") announced today the achievement
of research milestones in its collaboration with King's College
London in the field of nerve regeneration, and the issue of
shares in Oxford BioMedica to King's College London.
The collaboration
was formed in February 2001 between Oxford BioMedica and Professor
Malcolm Maden's research team at the Centre for Developmental
Neurobiology, King's College London. The research combines
BioMedica's LentiVector® gene delivery system
with the RARb2 gene, which is associated
with nerve regeneration, from King's College London. The work
undertaken to date has successfully demonstrated the ability
to stimulate the growth of adult nerve cells for a longer
period than the King's College London research team has ever
observed previously. The team has been working in the area
of nerve regeneration for over 10 years.
Under
the terms of a separate agreement, also signed in February
2001, King's College London has made a further equity investment
in Oxford BioMedica, subscribing for a total of 584,510 ordinary
shares of 1p each at 25.6625 pence per share. Following the
allotment of these shares the shareholding by King's College
London in Oxford BioMedica will be 757,194 shares, representing
0.32% of the issued share capital.
Commenting
on the developments, Chief Executive Professor Alan Kingsman
said:
"Considerable progress has been made with this programme.
Although still at an early stage, our collaboration with King's
College London has moved closer to the development of a treatment
for nerve repair in spinal injury and in neuropathies associated
with diseases, such as diabetes and vascular disorders."
-Ends-
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| Notes
| 1. |
Oxford BioMedica plc
Established
in 1995, the Company specialises in the application
of gene-based technology to the development of novel
therapeutics. Its three principal activities are in
the fields of gene therapy, immunotherapy and genomics,
and its principal therapeutic areas are in cancer and
neurodegenerative diseases. Oxford BioMedica plc was
floated on the Alternative Investment Market of the
London Stock Exchange in December 1996, and upgraded
to the United Kingdom Listing Authority Official List
in April 2001 following a successful £35.5 million
fund-raising.
Oxford
BioMedica has operating centres in Oxford, UK and San
Diego, USA
Currently
Oxford BioMedica has corporate collaborations with Aventis,
AstraZeneca, IDM, Nycomed Amersham, Valentis, Virbac
and Wyeth. BioMedica has two products in Phase I/II
clinical trials: MetXia® for late-stage
breast cancer, and TroVax® for late-stage
colorectal cancer.
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| 2. |
King's
College London
King's
is one of the two oldest and largest colleges of the
University of London with some 12,200 undergraduate
students and over 4,500 postgraduates in ten schools
of study.
The College is among the UK's top four higher education
institutions for the number of highest-rated subject-areas
for research quality. It is in the top group of five
universities for research earnings and has an annual
turnover of £285 million and research income from
grants and contracts in excess of £80 million
(1999-2000).
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| 3. |
LentiVector®
In
gene therapy, the aim is to deliver a gene and its necessary
regulatory elements (the gene construct) to the cell
surface, using a vector to mediate the transfer across
the cell membrane and, in some cases, into the nucleus.
LentiVector® is a new and increasingly
powerful vector system based on lentiviruses, which
have similar features to retroviruses in the ease of
manipulation, predictable integration and reliable gene
expression and regulation. However, their main advantage
over retroviruses is the ability to function in non-dividing
cells or cells that are dividing slowly - a feature
of many clinically important tissues including the central
and peripheral nervous systems.
Oxford
BioMedica is a leader in the development and application
of lentiviral vectors. Its proprietary LentiVector®
technology is protected by international patents, including
recently granted US and European patents.
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| For
further information please contact: |
|
|
Oxford BioMedica plc
Professor Alan
Kingsman, Chief Executive |
Tel:
+44 (0)1865 783 000 |
| City/Financial
Enquiries
Melanie Toyne Sewell/Fiona Noblet
Financial Dynamics |
Tel:
+44 (0)20 7831
3113 |
| Scientific/Trade
Enquiries
Chris
Gardner, HCC De Facto Group
|
Tel:
+44 (0)20 7496 3300 |
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