Proposed Fundraising

RNS Number : 8096X
Oxford Biomedica PLC
13 December 2010
 



This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any New Ordinary Shares, nor shall it (or any part of it), or the fact of its distribution, form the basis of, or be relied on in connection with or act as any inducement to enter into, any contract or commitment whatsoever with respect to the proposed Firm Placing and Placing and Open Offer or otherwise. This announcement is not a prospectus and investors should not subscribe for or purchase any New Ordinary Shares referred to in this announcement except SOLELY on the basis of information in the prospectus expected to be published in due course. Copies of the prospectus will, following publication, be available from Oxford BioMedica's head office at Medawar Centre, Robert Robinson Avenue, The Oxford SCIENCE Park, Oxford, OX4 4GA.

 

 

OXFORD BIOMEDICA plc

Proposed Firm Placing and Placing and Open Offer of up to £20 million

 

Oxford BioMedica plc ("Oxford BioMedica" or the "Company") (LSE: OXB:L) a biopharmaceutical company developing gene-based medicines and therapeutic vaccines, is pleased to announce that it intends to raise up to £20 million by way of a firm placing of up to 278,916,543 new ordinary shares of 1 pence each (the "New Ordinary Shares") (the "Firm Placing") and a placing and open offer of up to 121,083,457 New Ordinary Shares (the "Placing and Open Offer)" at a price of 5 pence per New Ordinary Share.

 

Qualifying Shareholders can subscribe for Open Offer Shares pro rata to their existing shareholding on the basis of 2 Open Offer Shares for every 9 Existing Ordinary Shares held.

 

Singer Capital Markets Limited is acting as Financial Adviser, Sponsor and Broker to the Firm Placing and Placing and Open Offer.

 

Further details of the prospectus (the "Prospectus") relating to the Firm Placing and Placing and Open Offer are expected to be made available later today.

 

Commenting on the proposed Firm Placing and Placing and Open Offer, John Dawson, Chief Executive Officer at Oxford BioMedica, said: "The global biotechnology sector has experienced substantial volatility in recent years, however, despite the consequent challenging capital markets Oxford BioMedica plans to raise up to £20 million thanks to the support of existing and new shareholders.  Over the next 12-18 months we expect multiple value-driving events with four ocular products planned to move into clinical development, in addition to key data from our ProSavin® and TroVax® programmes.  This funding will strengthen the business with a view to ensuring that Oxford BioMedica can extract the highest value from its innovative products.  Through the enhancement of our proprietary manufacturing, we will also be able to support five LentiVector® technology-based clinical programmes with greater flexibility and efficiencies.  The management team remains committed to delivering value for shareholders, driving growth and building on our success."

 

-Ends-

 

For further information, please contact:


Oxford BioMedica plc:

John Dawson, Chief Executive Officer

Andrew Wood, Chief Financial Officer

Lara Mott, Head of Corporate Communications

Tel: +44 (0)1865 783 000



Singer Capital Markets Limited

Shaun Dobson/ Claes Spång

Tel: +44 (0)20 3205 7500

 

Media/Financial Enquiries:

Emma Thompson/Rob Newman/Amber Bielecka

M:Communications

 

Tel: +44 (0)20 7920 2345

 

 

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 technology, 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.

 

This announcement is for information purposes only and does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire shares in the capital of the Company in the United States, Australia, Canada or Japan or any jurisdiction in which such offer or solicitation would be unlawful.  Any failure to comply with these restrictions may constitute a violation of the securities laws of such jurisdictions.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended ("Securities Act") and may not be offered, sold or transferred, directly or indirectly, within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the securities laws of any state or other jurisdiction of the United States. The securities are being offered and sold outside the United States in accordance with Regulation S under the Securities Act.  No public offering of the shares referred to in this announcement is being made in the United States, Australia, Canada or Japan or any jurisdiction in which such public offering would be unlawful.

 

The information in this press release may not be forwarded or distributed to any other person and may not be reproduced in any manner whatsoever. Any forwarding, distribution, reproduction, or disclosure of this information in whole or in part is unauthorised. Failure to comply with this directive may result in a violation of the Securities Act or the applicable laws of other jurisdictions.

 


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

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