Press releases

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2015

 

Oxford, UK – 27 August 2015: Oxford BioMedica plc (LSE: OXB), (“OXB” or “the Group”) a leading gene and cell therapy group, today announces interim results for the six months ended 30 June 2015.

HIGHLIGHTS

STRATEGY:

  • Good progress continued in executing the Group’s strategy of being a world-leading independent gene and cell therapy business: 

  • Innovative portfolio of gene and cell therapy product candidates

  • Partner of choice for lentiviral vector process development, manufacture and IP

  • Revenue from manufacturing and process development helping to offset cash burn

OPERATIONAL:

  • Developments made across wholly-owned lentiviral vector pipeline:

  • Encouraging results from RetinoStat® Phase I study in wet AMD

  • Promising three year follow-up data from ProSavin® Phase I/II study. Phase I/II clinical trial utilising OXB-102, a more potent version, on schedule to begin in 2016

  • EncorStat® being prepared for Phase I/II study at Moorfields Eye Hospital, London

  • Exciting CAR-T 5T4 research programme, combining LentiVector® and 5T4 technology, progressing well

  • Novartis contract delivery on track:

  • Multiple CTL019 lentiviral vector batches manufactured for Novartis during first half of the year

  • Novartis-led global CTL019 trial ongoing, using OXB-manufactured vector

  • Process development activities well underway and on target

  • Manufacturing capacity expansion:

  • Harrow House first phase expansion due to complete by end of the year

  • New Yarnton facility on track and nearing completion

  • Windrush Court North Wing refurbishment is on track with new laboratory construction programme in progress

  • Bolstered Board:

  • Daniel Soland appointed Non-Executive Director of the Board

FINANCIAL:

  • Revenue of £4.4 million (H1 2014: £4.7 million) due in large part to Novartis contract

  • Other operating income of £1.4 million (H1 2014: £0.4 million)

  • Research & Development costs of £9.2 million (H1 2014: £6.9 million)

  • Net loss of £6.1 million (H1 2014: £4.8 million)

  • Capital expenditure £4.6 million (H1 2014: £0.1 million)

  • Cash of £15.1 million (31 December 2014: £14.2 million)

  • $50 million (£32.6 million) loan facility secured to finance capacity expansion, pipeline advancements and product acquisitions

John Dawson, Chief Executive Officer of Oxford BioMedica, said: “I am very pleased by the progress we have made over the past six months. We have seen encouraging data from both the RetinoStat® Phase I study and the long-term follow-up of ProSavin®patients which give us further confidence that our lentiviral vector platform can deliver meaningful and sustained long-term benefit to patients. We have also made a good start in delivering the Novartis contract and the Group’s sector-leading expertise in integrated gene and cell therapy is clearly in demand. We are well placed to benefit from additional manufacturing contracts and from the opportunities our business model now presents us.”

An analyst briefing will be held at 09:30am BST on Thursday, 27 August 2015 at the offices of Consilium Strategic Communications, 41 Lothbury, London, EC2V 8AE. There will be a simultaneous live conference call and the presentation will be available on the Group’s website at www.oxfordbiomedica.co.uk.

Please visit the website approximately five minutes before the conference call, at 09:25 am BST, to download the presentation slides. Conference call details:

Participant dial-in: +44 (0) 1452 555566

Conference ID: 17279692

An audio replay file will be made available by the end of the day via the Group's website on the “Media/Download centre/Webcasts and audio” section. Alternatively, you may listen to the replay by dialling the following number:

Dial-in for replay (available until 24-09-2015): +44 (0)1452550000

Conference ID: 17279692

-Ends-

Notes to editors

About Oxford BioMedica®

Oxford BioMedica (LSE:OXB) is a leading gene and cell therapy company focused on developing life changing treatments for serious diseases. Oxford BioMedica and its subsidiaries (the “Group”) have built a sector leading lentiviral vector delivery platform (LentiVector®) through which the Group develops in vivo and ex-vivo products both in-house and with partners. The Group has created a valuable proprietary portfolio of gene and cell therapy product candidates in the areas of oncology, ophthalmology and CNS disorders. The Group has also entered into a number of partnerships, including with Novartis, Sanofi, GSK, and Immune Design, through which it has long-term economic interests in other potential gene and cell therapy products. Oxford BioMedica is based across several locations in Oxfordshire, UK and employs more than 250 people. Further information is available at www.oxfordbiomedica.co.uk.

For further information please contact

Oxford BioMedica plc

John Dawson, Chief Executive Officer

Tim Watts, Chief Financial Officer

Tel: +44 (0)1865 783 000

 

Consilium Strategic Communications – Media Enquiries

Mary-Jane Elliott/Matthew Neal/Philippa Gardner/Laura Thornton

Tel: +44 (0)20 3709 5700

 

Jefferies (Corporate Broker) 

Gil Bar-Nahum/Simon Hardy/Lee Morton/Max Jones/Nicholas Moore

Tel: +44 (0)20 7029 8000