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News / 5 September 2006
 

 

2006/OB/19

OXFORD BIOMEDICA PLC INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2006

Oxford BioMedica (LSE: OXB), a leading gene therapy company, announced today its interim financial results for the six months ended 30 June 2006.

Year to date highlights:

Operational highlights:
TroVax®
(multiple cancers)

  • Encouraging results from five Phase II trials in colorectal and renal cancer presented at ASCO meeting
  • Phase II trial in prostate cancer fully recruited, and preliminary analysis shows high frequency of anti-tumour immune responses
  • US Southwest Oncology Group secures regulatory clearance for a Phase II trial in breast cancer
  • Special Protocol Assessment secured from the US FDA for Phase III TRIST study in renal cancer
  • QUASAR committed to conduct a Phase III trial in early-stage colorectal cancer
  • Licensing discussions at advanced stages of due diligence

    MetXia® (pancreatic cancer)

  • Two dose levels of cyclophosphamide successfully evaluated in second stage of the Phase II trial

    ProSavin® (Parkinson’s disease)

  • Meeting request submitted to European agency as part of regulatory process to start clinical trials

    RetinoStat® (retinopathy)

  • Preclinical preparation underway to support submission to regulatory authorities to start clinical trials.

    Technology licensing:

  • Technology licence provided to VIRxSYS for AIDS/HIV product in Phase II trials

  • Strategic alliance partner, Sigma-Aldrich, launched second series of LentiVector®-RNAi reagents

    Financial highlights:

  • Revenue of £0.2 million (first half of 2005: £0.2 million)
  • Research and development costs of £9.5 million (first half of 2005: £4.8 million)
  • Loss after tax of £8.7 million (first half of 2005: £5.0 million)
  • Cash burn1 of £5.4 million (first half of 2005: £4.4 million)
  • Cash, cash equivalents and current financial assets at 30 June of £38.7 million (30 June 2005: £18.6 million)

    1. Net cash used in operating activities plus purchase of non-current assets

    Commenting on the interim results, Oxford BioMedica’s Chief Executive, Professor Alan Kingsman, said: “Our lead anti-cancer product, TroVax, continues to generate promising clinical results in multiple cancer settings. Its progression into Phase III trials and a commercial collaboration should ensure that TroVax is developed and commercialised to its full potential. Progress across the development pipeline could result in three further products entering clinical development in 2006-07. With the Company in a strong financial position, we look forward to pursuing our key development and commercial goals.”

    Click here to view the Chairman’s and chief executive’s report

    To view a webcast of the results presentation go to: http://www.oxfordbiomedica.co.uk/webcast2/index.htm


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    Notes

    1. Oxford BioMedica plc
     

    Oxford BioMedica (LSE: OXB) is a biopharmaceutical company specialising in the development of novel gene-based therapeutics with a focus on 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 two candidates in multiple Phase II trials, and a preclinical targeted antibody therapy in collaboration with Wyeth. A Phase III trial in renal cancer with TroVax, the lead cancer immunotherapy candidate, is expected to start in the second half of 2006. In neurotherapy, the Company's lead product is a gene therapy for Parkinson's disease, which is expected to enter clinical development 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 70 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, Sigma-Aldrich, Viragen, MolMed, Virxsys 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
    Katja Stout/Gemma Bradley/Susan Yu College Hill - Life Sciences
    Tel: +44 (0)20 7886 8150

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