Interim Management Statement

RNS Number : 8260E

Oxford Biomedica PLC

16 May 2013

 

Oxford BioMedica Interim Management Statement

Oxford, UK - 16 May 2013: Oxford BioMedica ("Oxford BioMedica" or "the Company") (LSE: OXB), the leading gene-based biopharmaceutical company, today publishes its interim management statement for the period from 1 January to 15 May 2013.

OPERATIONAL HIGHLIGHTS

LentiVector^® platform manufacturing

·      New manufacturing collaboration with Novartis expected to generate between £2.5 million to £4 million of income over the next 12 months

Ocular product development

·      Positive DSMB review of first three patient cohorts (n=12) in ongoing StarGen™ Phase I/IIa trial in April

·      UshStat^® video selected to showcase theme of "Life-changing Research" at 2013 ARVO annual meeting

5T4 tumour antigen platform industry collaborations

·      First patient treated with TroVax^® in Phase II mesothelioma study led by Velindre Cancer Centre, Wales

Targeted antibody therapy for cancer partnered with Pfizer

·      Multiple presentations of the 5T4 antibody drug conjugate (ADC) programme by Pfizer at key conferences:

̶    American Association for Cancer Research (AACR) annual meeting in April 2013

̶    The Ninth Annual PEGS, the essential protein & antibody engineering summit, in April 2013

FINANCIAL REVIEW

Oxford BioMedica's net cash¹ balance at 31 December 2012, as stated in the annual report, was £14.1 million (audited).  At 30 April 2013, the Company had a net cash¹ balance of £9.2 million (unaudited). Including income from the recently announced Novartis collaboration, the Company now has sufficient cash¹ resources to fund operations into Q2 2014.

1.     Cash, cash equivalents and available for sale investments

OUTLOOK

Oxford BioMedica remains focused on completing the RetinoStat^® Phase I study, generating further income from manufacturing, alliances and intellectual property, as well as initiating pre-clinical development of the next generation of ocular product opportunities.

John Dawson, Chief Executive Officer of Oxford BioMedica, said: "We have made a strong start to 2013 having secured a revenue-generating lentiviral vector manufacturing alliance.  We believe this not only validates our manufacturing capabilities, but is also a key step towards turning Oxford BioMedica into a company that is financially self-sustaining.  Having extended our financial resources into Q2 2014, we look forward to opportunities ahead and remain confident in our ability to deliver our strategic goals."

-Ends-

For further information, please contact:
Oxford BioMedica plc: Lara Mott, Head of Corporate Communications	Tel: [phone]
Media Enquiries: Mary Clark/Sarah Macleod/Claire Dickinson M:Communications	Tel: [phone]

Notes to editors

1. Oxford BioMedica^®

Oxford BioMedica plc (LSE: OXB) is a biopharmaceutical company developing innovative gene-based medicines and therapeutic vaccines that aim to improve the lives of patients with high unmet medical needs. The Company's technology platform includes a highly efficient LentiVector^® gene delivery system, which has specific advantages for targeting diseases of the central nervous system and the eye; and a unique tumour antigen (5T4), which is an ideal target for anti-cancer therapy. Through in-house and collaborative research, Oxford BioMedica has a broad pipeline with current partners and licensees including Sanofi, Pfizer, Novartis, GlaxoSmithKline, MolMed, Sigma-Aldrich, Biogen Idec, Emergent BioSolutions, ImaginAb and Immune Design Corp. Further information is available at www.oxfordbiomedica.co.uk and www.oxbsolutions.co.uk.

 

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