OXFORD BIOMEDICA PLC PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2005

Oxford BioMedica (LSE: OXB), the leading gene therapy company, today announces its preliminary results for the year ended 31 December 2005.

Operational highlights:

TroVax^® (cancer)

• Initial analyses of results from Phase II trials in metastatic colorectal cancer with chemotherapy suggest that TroVax improves survival as well as tumour response rate
• Initial results from Phase II trials in renal cell carcinoma with interleukin-2 showed good safety and strong immune responses (initial tumour response data from the first few patients will be published at the time of ASCO, June 2006)
• Phase III pivotal study protocol for renal cell carcinoma submitted to FDA
• Entered discussions with QUASAR on proposed Phase III trial in Stage II/III colorectal cancer

MetXia^® (cancer)

• Results from stage one of the Phase II trial in pancreatic cancer confirmed the product's safety and tolerability and showed dose-related gene transfer at the tumour site
• Stage two dose escalation of cyclophosphamide progressing according to plan

Targeted Antibody Therapy (cancer)

• Wyeth presented preclinical data showing encouraging efficacy, including improved survival in a lung cancer model

ProSavin^® (Parkinson's disease)

• Preclinical studies confirmed previous conclusions on safety and showed that the product induces almost full recovery to the most recent time point of 20 weeks

RetinoStat^® (retinopathy)

• Preclinical results from studies conducted with the Institute of Ophthalmology and Johns Hopkins University showed statistically significant efficacy

Technology licensing

• Strategic alliance with Sigma-Aldrich to develop and commercialise LentiVector^®-RNAi reagents
• Licensing agreements for the LentiVector technology for research applications with Pfizer and two undisclosed global biopharmaceutical companies

Financial highlights:

• Revenue £0.8 million: increased £0.3 million (64%) over 2004
• Operating expenses £12.2 million: £1.2 million (9%) less than 2004
• Loss for the year £9.1 million: £1.4 million (13%) less than 2004
• Cash burn £7.7 million: £2.0 million (21%) less than 2004
• Total of £29.0 million raised from issue of shares in 2005
• Year end cash, cash equivalents and current asset investments £43.8 million (2004: £22.4 million)

Board changes:

• Dr Mike McDonald, Chief Medical Officer appointed on 2 February 2006
• Raj Uppal, Non-Executive Director, resigned from the Board on 13 March 2006

Professor Bob Hawkins, Clinical Director of Medical Oncology at the Christie Hospital in Manchester and Principal Investigator for several TroVax trials commented on the data from the Phase II studies of TroVax with chemotherapy, saying: "The data using TroVax in combination with chemotherapy in colorectal cancer look very encouraging particularly considering the size of the study. If these data were reproduced in a suitably powered pivotal study then they would likely support an efficacy claim in a license application."

Commenting on the annual results, Oxford BioMedica's Chief Executive, Professor Alan Kingsman said: “We are very pleased to report strong progress across the entire development portfolio and in our licensing and business development activities during 2005. Our lead candidate, TroVax, continues to report promising results in clinical trials and we look forward to reporting more data at ASCO in June 2006. The preliminary analysis of patient survival in the Phase II colorectal cancer trials is encouraging and these data add further value as we progress our deal discussions. We remain focussed on achieving our key objectives of securing a commercial partner for TroVax and commencing Phase III trials. The fund raising in 2005 provides us with the financial strength to add value to our programmes while pursuing licensing deals and product collaborations."

Click here to view the Chairman’s Report and Operating and Financial Review.

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