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 Oxford BioMedica Secures Exclusive License for Key Intellectual Property Related to Ocular Products - 22/01/20102010/OB/03
Oxford, UK: 22nd January 2010: Oxford BioMedica (LSE: OXB), a leading gene therapy company, announced today that it has entered a license agreement with the Research Development Foundation, the technology transfer entity for the Clayton Foundation for Research of Houston, Texas. Under the terms of the agreement, Oxford BioMedica has secured exclusive rights to intellectual property that supports its gene-based ocular products RetinoStat® and Encorstat®. Oxford BioMedica will pay an upfront payment and royalties on sales. Further details were not disclosed. The intellectual property describes a novel method for effective delivery of anti-angiogenic genes to the eye using lentiviral vectors. The technology was invented by Dr Timothy Stout and Dr Binoy Appukuttan working at the Oregon Health & Science University.
In a separate agreement, also announced today, the Research Development Foundation has agreed to subscribe for a total of 1,699,876 ordinary shares of 1p each at £0.11575 per share. Application will be made to the United Kingdom Listing Authority ('UKLA') for the newly issued ordinary shares in Oxford BioMedica to be admitted to the Official List of the UKLA and to the London Stock Exchange plc for admission to trading on its market for listed securities. The shares are expected to commence trading on 28th January 2010.
John Dawson, Chief Executive of Oxford BioMedica, commented: “We are delighted to have secured exclusive rights to these patents and to be working with Dr Stout and his team. We look forward to a successful 2010 as we progress our ocular products towards the clinic.” - Ends -
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