News / 20 September 2005
 

 

2005/OB/28

OXFORD BIOMEDICA PLC INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2005

Oxford BioMedica (LSE: OXB), the leading gene therapy company, announced today its interim financial results for the six months ended 30 June 2005. Year to date highlights:

Oncology

  • Encouraging Phase II results with TroVax® and chemotherapy in colorectal cancer presented at American Society of Clinical Oncology meeting
  • Further data from Phase II trials with TroVax to be presented at International Colorectal Cancer Congress from 14 to 16 October 2005
  • First stage of Phase II trial with MetXia® in pancreatic cancer successfully concluded
  • Wyeth expects to start trials in next 12 months with Oxford BioMedica’s 5T4 antibody targeted therapy for solid tumours
  • Intervet expects to start trials in next 12 months with Oxford BioMedica’s TroVax-Vet® in dogs with naturally occurring cancer

Neurotherapy

  • Preparations for clinical trials of ProSavin® progressed. Phase I/II trial in Parkinson’s disease anticipated to start in 2006
  • Preclinical efficacy data with RetinoStat® for age-related macular degeneration presented at Association for Research in Vision and Ophthalmology meeting
  • New grant received for MoNuDin® from UK Motor Neuron Disease Association for amyotrophic lateral sclerosis
  • Preclinical efficacy data with Innurex® for spinal cord injury presented at American Society of Gene Therapy meeting

Technology Licensing

  • New license agreements signed with Pfizer and a leading biopharmaceutical company for LentiVector® technology
  • LentiVector licensee, Viragen, reached a milestone in development of an avian transgenic biomanufacturing system.

Financial

  • Cash, cash equivalents and short term investments at 30 June 2005 of £18.6 m
  • R&D costs lower than last year at £4.8 m (H1 2004: £5.2 m)
  • Net decrease in cash and short term investments lower than last year at £3.8 m (H1 2004: £5.6 m)

Commenting on the interim results, Professor Alan Kingsman, Chief Executive of Oxford BioMedica, said: "Oxford BioMedica has made good progress during the year to date. Clinical results with the lead products have been highly encouraging and our preclinical candidates in both oncology and neurotherapy have similarly progressed. The next 12 months could see three pipeline products start clinical trials. Technology licensing has attracted two new partners in the first half of the year. Signing new collaborations on our technologies and also our development products is a key focus for the company in the next 12 months."

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

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Notes

1. Oxford BioMedica

Oxford BioMedica (LSE: OXB) is a biopharmaceutical company specialising in the development of novel gene-based therapeutics with a focus on the areas of oncology and neurotherapy. The Company was established in 1995 as a spin out from Oxford University, and is listed on the London Stock Exchange.

Oxford BioMedica has core expertise in gene delivery, as well as in-house clinical, regulatory and manufacturing know-how. In oncology, the pipeline includes an immunotherapy and a gene therapy in multiple Phase II trials, and a preclinical targeted antibody therapy in collaboration with Wyeth. In neurotherapy, the Company’s lead product is a gene therapy for Parkinson’s disease, which is expected to enter clinical trials in 2006, and four further preclinical candidates. The Company is underpinned by over 80 patent families, which represent one of the broadest patent estates in the field.

The Company has a staff of approximately 65 split between its main facilities in Oxford and its wholly owned subsidiary, BioMedica Inc, in San Diego, California. Oxford BioMedica has corporate collaborations with Wyeth, Intervet, Viragen, MolMed and Kiadis; and has licensed technology to a number of companies including Merck & Co, Biogen Idec and Pfizer.

 

For further information please contact:

 

Oxford BioMedica plc
Professor Alan Kingsman, Chief Executive

Tel: +44 (0)1865 783 000

City/Financial Enquiries
Lisa Baderoon/
Mark Court/Mary-Jane Johnson
Buchanan Communications

Tel: +44 (0)20 7466 5000

Scientific/Trade Press Enquiries
Sue Charles, Katja Stout, Ashley Lilly
College Hill - Life Sciences
Tel: +44 (0)20 7886 8150

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