OXFORD
BIOMEDICA
UK Gene Therapy Company Raises £6 million
Oxford BioMedica, specialist
in the research and development of gene-based therapeutics,
has announced that it has raised a further £1.43 million through
a 1 for 4 rights issue of 14,257,138 Ordinary Shares. This follows
a successful placing of 45,742,862 Ordinary Shares in March,
bringing the total funds raised in this round to £6 million
(before expenses). The new funds will be used to support the
Company's R&D and clinical development programmes with its first
trial in cancer planned to begin a year ahead of initial projections.
More than 95% of the rights shares were taken
up with Beeson Gregory, underwriters for the financing, placing
the remaining few shares.
"We are pleased to see our shareholders increasing
their investment in the Company. Their continued commitment
will help us to develop further our innovative technologies
and advance much needed therapies to the clinic. We thank
them for their valued support," commented Andrew Wood, Finance
Director.
Notes to Editors
1. Oxford BioMedica, established in 1995,
specialises in the development and application of gene-based
therapeutics using advanced retroviral gene delivery technologies
for the treatment of disease in the areas of: oncology, viral
infection, neurobiology and genetic deficiency. Oxford BioMedica
plc was floated on the UK Alternative Investment Market of
the London Stock Exchange in December 1996.
2. The Company intends to develop its therapeutic
products and take them through their initial phases of clinical
testing. The candidate products are expected to be licensed
to suitable business partners who will then complete the later
phases of clinical trials, and ultimately manufacture and
market the products.
3. The Company also intends to exploit commercial
opportunities arising from its platform technologies with
appropriate business partners.
4. Further information on Oxford BioMedica
can be obtained from its website: http://www.oxfordbiomedica.co.uk
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