-- Oxford BioMedica regains worldwide rights to EncorStat® --
-- Sanofi broadens global rights to StarGen™ and UshStat® across all disease indications –
-- EncorStat® Phase I/IIa study funded from previously announced TSB grant of £1.8 million --
Oxford, UK – 17 February 2014: Oxford BioMedica plc (LSE: OXB) (“the Company”), the leading gene-based biopharmaceutical company, today announces that it has concluded the terms of the development and commercialisation licence agreement (the “Licence”) with its partner Sanofi to develop the novel gene-based medicines for the treatment of ocular diseases, StarGen™ and UshStat®. Under the terms of the licence, Sanofi has been granted broadened global rights across all ocular disease indications for StarGen™ and UshStat® and, in return, Oxford BioMedica will regain the worldwide rights to EncorStat®, a treatment for corneal graft rejection.
Under the terms of the collaboration agreement signed in April 2009, Sanofi committed $24 million of development funding that was subsequently prioritised for the advancement of RetinoStat®, StarGen™ and UshStat®. In June 2012, Sanofi elected to exercise its options to acquire exclusive worldwide development and commercialisation licences for StarGen™ and UshStat® which triggered an aggregate option exercise payment of US$3 million to Oxford BioMedica. Under the new Licence Oxford BioMedica is eligible for development and commercialisation milestone payments and royalties on any future sales of the two products. The parties expect that the management of the ongoing clinical studies will be handed over from the Company to Sanofi during the first half of 2014.
EncorStat®, which has expected peak year sales of c.$60 million1 and was designed and developed by Oxford BioMedica using the Company's proprietary LentiVector® platform technology, was included in the 2009 collaboration between Sanofi and Oxford BioMedica and has successfully completed pre-clinical studies. As previously confirmed on 19 November 2013, Oxford BioMedica was awarded a £1.8 million grant by the UK's innovation agency, the Technology Strategy Board, which will facilitate the Company funding a Phase I/IIa clinical study for EncorStat® which is planned to be conducted at Moorfields Eye Hospital, London, and is expected to start recruitment in 2015.
Commenting on the news, John Dawson, Chief Executive Officer of Oxford BioMedica, said:
“We are delighted to regain the full rights to EncorStat®. We believe that niche ocular indications have significant market value and we are therefore excited by the opportunity to execute our plans and to progress EncorStat® into its first human studies next year.
“We have a strong partner in Sanofi and are delighted to continue our ocular collaboration with them. Together, we are focused on completing the RetinoStat® Phase I study this year and the future development of StarGenTM andUshStat®. We firmly believe that these programmes have the potential to bring life-changing treatments to patients.”
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