Acquisition of Manufacturing Facility

RNS Number : 2988A
Oxford Biomedica PLC
31 January 2011
 

 

OXFORD BIOMEDICA ACQUIRES GMP MANUFACTURING FACILITY

 

-- Support for Oxford BioMedica's five LentiVector® technology-based programmes --

-- UK production facility in Oxford to be operational in 2012 --

 

Oxford, UK - 31 January 2011: Oxford BioMedica plc ("Oxford BioMedica" or "the Company") (LSE: OXB), a leading gene therapy company, today announces that it has agreed to acquire a manufacturing facility ("the facility") based in Oxford, UK from RecipharmCobra Biologics, the specialist biologics division of Recipharm AB, for a purchase price of £1.9 million. 

 

The acquisition and operation of this manufacturing facility is a planned use of proceeds following the Company's recent £20 million fundraising which closed on 10 January 2011.  The acquisition of the facility is expected to complete by the end of February 2011.

 

The manufacturing facility will enable Oxford BioMedica to have greater control of the production of its proprietary LentiVector® gene delivery technology in order to support five of the Company's clinical programmes.  With the ocular products partnered with sanofi-aventis advancing into Phase I/II development during 2011, in addition to the planned progression of ProSavin® into a randomised Phase II study for Parkinson's disease in 2012, the facility is expected to deliver long-term operational and financial efficiencies for the Company in comparison to outsourcing processes to a specialist contract manufacturing organisation.  This acquisition will also reduce the Company's dependence on a single manufacturing source for its growing clinical portfolio and facilitate the rapid implementation of improved manufacturing processes at increased scale.

 

The facility totals approximately 16,000 square feet, which includes c. 4,400 square feet in cleanrooms, and is already configured to meet the Company's manufacturing requirements.  The facility was previously approved by the Medicines and Healthcare products Regulatory Agency (MHRA) to Good Manufacturing Practice (GMP) standards.  Oxford BioMedica anticipates a minimum of 12 months to re-commission the facility which will include the first phase of staff recruitment towards the anticipated fully-operational level of about 35 to 40 staff.  The Company estimates an annual running cost of approximately £2.2 million per annum for the facility.

 

John Dawson, Chief Executive Officer of Oxford BioMedica, said: "As our ocular programme continues to advance we look forward to the significant growth of our clinical portfolio from two lead products, ProSavin® for Parkinson's disease and RetinoStat® for "wet" AMD, to five clinical products using our proprietary LentiVector® gene delivery technology.  Investment in our specialist manufacturing processes will ensure the rapid progression of these five products through Phase II, Phase III and to market.  Importantly, this acquisition also provides the opportunity for Oxford BioMedica to become the LentiVector® technology supplier of choice for its current and future partners which could provide additional revenues in the coming years."

 

-Ends-

 

For further information, please contact:


Oxford BioMedica plc:

Lara Mott, Head of Corporate Communications

 

Tel: +44 (0)1865 783 000

 

Media/Financial Enquiries:

Emma Thompson/Amber Bielecka/Katja Toon

M:Communications

 

Tel: +44 (0)20 7920 2342

 

 

US Enquiries:

Simon Harnest

The Trout Group LLC

 

Tel: +1 (646) 378 2900

 

Notes to editors

1. Oxford BioMedica®

Oxford BioMedica plc (LSE: OXB) is a biopharmaceutical company developing innovative gene-based medicines and therapeutic vaccines that aim to improve the lives of patients with high unmet medical needs. The Company's technology platform includes a highly efficient LentiVector® gene delivery system, which has specific advantages for targeting diseases of the central nervous system and the eye; and a unique tumour antigen (5T4), which is an ideal target for anti-cancer therapy. Through in-house and collaborative research, Oxford BioMedica has a broad pipeline and its partners include sanofi-aventis, Sigma-Aldrich and Pfizer.  Further information is available at www.oxfordbiomedica.co.uk.

 

2. LentiVector® gene delivery technology

Oxford BioMedica's LentiVector® gene delivery technology is one of the most advanced gene delivery systems currently available, which has many applications in product development and discovery research.  It is the system of choice for gene-based treatments addressing chronic and inherited diseases.  Oxford BioMedica has established a dominant intellectual property estate in the field of lentiviral-vector mediated gene delivery through its in-house research and from work conducted by the Company's co-founders at Oxford University.


This information is provided by RNS
The company news service from the London Stock Exchange
 

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