OXFORD BIOMEDICA PLC INTERIM RESULTS
FOR THE SIX MONTHS ENDED 30 JUNE 2004

Oxford BioMedica (LSE: OXB) announced today its interim financial results for the six months ended 30 June 2004. Year to date highlights:

Oncology

• TroVax: interim results from two Phase II trials in colorectal cancer in combination with standard of care chemotherapy indicate that the primary endpoints have been achieved (see separate announcement).
• TroVax: statistical analysis of the completed Phase I/II trials in colorectal cancer confirms the correlation between improved patient survival and immune responses to TroVax.
• TroVax: Cancer Research UK commenced recruitment in a Phase II trial investigating TroVax as an adjuvant to surgery in colorectal cancer.
• TroVax: the first US Phase II trial in renal cell cancer started under an IND.
• MetXia: recruitment is underway in a Phase I – Phase II trial in pancreatic cancer.
• TroVax-Vet: Intervet has completed preclinical efficacy studies with the animal cancer vaccine and is planning clinical trials.

Neurotherapy

• ProSavin: preclinical efficacy data in Parkinson’s disease presented at the American Society for Gene Therapy.
• ProSavin: discussions initiated with UK regulatory authorities prior to a formal submission for the start of clinical trials.
• MoNuDin: preclinical efficacy data in ALS published in Nature.
• Innurex: preclinical data showing restoration of limb function in avulsion (stretch) injury presented at the American Society of Gene Therapy. LentiVector Technology
• Two license agreements signed with Merck & Co and Viragen respectively.
• Grant from the UK Department of Health to develop novel treatments for single gene disorders.

Financial

• Cash and short-term investments at 30 June 2004 of £26.2 million (2003: £17.2 million).
• R&D costs and administration expenses for the period unchanged from last year at £6.9 million.
• Cash burn for the half year of £5.7 million (H1 2003: £3.8 million). The difference is due mainly to the timing of the receipt of R&D tax credit.

Commenting on the interim results, Prof. Alan Kingsman, Chief Executive of Oxford BioMedica, said, “Oxford BioMedica has had another successful period. The clinical results with TroVax add further value to our lead oncology product, while the neurotherapy pipeline continues to generate exciting preclinical proof of concept data. We are very pleased to have secured two new partnerships on our LentiVector technology and we expect further licensing deals for both our technologies and our lead products.”

Chairman's and Chief Executive's Report plus Financial Information.

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