Oxford, UK – 10 April 2014: Oxford BioMedica plc ("Oxford BioMedica" or "the Company") (LSE: OXB), the leading gene-based biopharmaceutical company, today announces its preliminary results for the year ended 31 December 2013.
1 Audited financial results
2 Net cash used in operating activities plus sales and purchases of non-current assets and interest received
3 Cash, cash equivalents and available for sale investments
John Dawson, Chief Executive Officer at Oxford BioMedica, said: “2013 was a challenging year but Oxford BioMedica operationally is now in its strongest position ever. The Company made solid progress throughout the pipeline, notwithstanding the challenge we faced when we voluntarily suspended our clinical studies for five months. Our platform is now truly unique comprising LentiVector® gene delivery technology know-how, IP and manufacturing and it underpins our own product candidate programmes.
"The growing income from our development and manufacturing activities alongside our in-house development pipeline development provides us with a leading position in the delivery of gene therapy solutions. Building upon the deals signed with GSK and Novartis in 2013, we plan to make significant strides towards developing our emerging revenue generating business opportunity by providing high-margin development and manufacturing services that will, over time, allow us to reduce our cash burn significantly.
“We will build on these substantial operational achievements in 2014 and are excited about the current buoyancy in our sector which is providing us with confidence that we will be able to deliver value back to shareholders.”
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Notes to editors
About Oxford BioMedica
Oxford BioMedica (LSE:OXB) is a leading gene and cell therapy group 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®), which the Group leverages to develop 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, Bioverativ, Sanofi, Axovant, Orchard Therapeutics, Boehringer Ingelheim/UK Cystic Fibrosis Gene Therapy Consortium/Imperial Innovations, GC LabCell 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 320 people. Further information is available at www.oxfordbiomedica.co.uk.
For further information please contact
Oxford BioMedica plc
John Dawson, Chief Executive Officer
Stuart Paynter, Chief Financial Officer
Tel: +44 (0)1865 783 000
Financial and corporate communications enquiries:
Consilium Strategic Communications
Mary-Jane Elliott/Matthew Neal/Olivia Manser/Laura Thornton
Tel: +44 (0)20 3709 5700
Peel Hunt (Joint Corporate Brokers):
James Steel/Christopher Golden
Tel: +44 (0)20 7418 8900
WG Partners (Joint Corporate Brokers):
David Wilson/Claes Spang
Tel: +44 (0)20 3705 9321