Completion of Transaction

RNS Number : 4164E

Oxford Biomedica PLC

10 March 2022

 

Completion of Transaction

Oxford, UK - 10 March 2022:  Oxford Biomedica plc (LSE:OXB) ("Oxford Biomedica" or "the Company"), a leading gene and cell therapy group, is pleased to announce that it has today completed the acquisition of an 80 per cent. ownership interest in a newly formed AAV focused manufacturing and innovation business, Oxford Biomedica Solutions, for an implied pre-money enterprise value of approximately $175m.  This follows the Company entering into an equity securities purchase agreement with Homology Medicines Inc. on 28 January 2022.

The Company has fully drawn down the $85m Short Term Loan Facility with Oaktree which has been used to temporarily bridge fund the Acquisition and the $50m cash injection into Oxford Biomedica Solutions.

Admission of the Conditional Placing Shares is expected to occur at 8.00 a.m. on 11 March 2022 as has been previously announced.

Dr. Roch Doliveux, Chair and Interim CEO of Oxford Biomedica, commented : "We are delighted to have closed this transaction today. Oxford Biomedica is transforming into an innovative global viral vector leader that provides solutions to cell and gene therapy biotech and biopharma companies for their process development and manufacturing needs. Today also sees us form our first US operating subsidiary, located close to customers, talent, innovation in academia and pools of capital, which will enhance our market leadership position working across key viral vector types ."

-Ends-

Enquiries: 

Oxford Biomedica plc:   T: [phone] / E: [e-mail]

Stuart Paynter, Chief Financial Officer

Sophia Bolhassan, Head of Investor Relations

Evercore (Financial Adviser):   T: [phone]

Simon Elliott

Julian Oakley

Peel Hunt (Sponsor and Joint Bookrunner):   T: [phone]

James Steel

Jock Maxwell Macdonald

Sohail Akbar

WG Partners (Joint Bookrunner):   T: [phone]

David Wilson

Claes Spång

Satheesh Nadarajah

Consilium Strategic Communications:  

Mary-Jane Elliott   T: [phone]

Matthew Neal   T: [phone]

About Oxford Biomedica

Oxford Biomedica (LSE:OXB) is a leading, fully integrated, gene and cell therapy group. In January 2022, Oxford Biomedica announced that it was broadening its leading viral vector offerings by incorporating Homology Medicines' established AAV capabilities into a newly formed AAV Manufacturing and Innovation Business in the US with Homology Medicines as a 20% owner. To date, 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, CNS disorders and liver diseases. The Group has also entered into a number of partnerships, including with Novartis, Bristol Myers Squibb, Boehringer Ingelheim, Beam Therapeutics, Arcellx, Cabaletta, Orchard Therapeutics and Santen, through which it has long-term economic interests in other potential gene and cell therapy products. Additionally, the Group has signed a 3-year master supply and development agreement with AstraZeneca for large-scale manufacturing of the adenoviral based COVID-19 vaccine, AZD1222. Oxford Biomedica is based across several locations in Oxfordshire, UK and employs more than 740 people. Further information is available at www.oxb.com .

 

END

 

 

ACQDBLFFLXLXBBB