Oxford Biomedica Updates Lentiviral Agreement

RNS Number : 3585V

Oxford Biomedica PLC

13 December 2021

 

The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018). Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Oxford Biomedica updates and extends Commercial Supply Agreement for Manufacture of Lentiviral Vectors

Oxford, UK - 13 December, 2021: Oxford Biomedica plc (LSE:OXB) ("Oxford Biomedica" or "the Group"), a leading gene and cell therapy group, announced today that it has agreed an extension and update to its commercial supply Agreement with Novartis for the manufacture of lentiviral vectors for several Novartis CAR-T products.

Oxford Biomedica initially licensed its LentiVector^® platform to Novartis in the field of CAR-T in October 2014, followed by a 5 year commercial supply agreement signed by Oxford Biomedica and Novartis in December 2019. Under the terms of the updated agreement announced today, the parties have extended the terms of the commercial supply agreement to the end of 2028 and Oxford Biomedica has regained the rights to its LentiVector® platform relating to three CAR-T targets, including CD19 targeted therapies. The Group now has the right to work with potential pharmaceutical and biotech partners other than Novartis across all CAR-T targets.

In addition, under the terms of the new agreement Novartis has been granted additional flexibility in ordering of GMP batches across Oxford Biomedica's multiple GMP facilities but will no longer have a minimum order commitment. This is expected to result in a mid-single digit £ million reduction in previously guided FY21 revenues. The Group continues to work on multiple CAR-T programs with Novartis, including Kymriah®, as well as a broad number of development opportunities on which the Group earns manufacturing revenues, process development fees and royalties on net sales. 

John Dawson, Chief Executive Officer of Oxford Biomedica, said:

"This news today is an example of Oxford Biomedica seeking to adapt to customer needs over time, our strength as a long-term partner and our goal to unlock value and build scale across the Group.  

"We have enjoyed a strategic partnership with Novartis since 2014 and are excited to announce this updated supply agreement which provides both companies with greater flexibility in GMP supply of vector for Kymriah and other pipeline products and allows us to react to the rapidly growing dynamics of the commercial CAR-T sector.  

"In return, we are very pleased to have regained the ability to license our LentiVector® platform across all CAR-T targets, maximising our ability to serve a larger proportion of the growing market for lentiviral vectors."

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Enquiries: 

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

John Dawson, Chief Executive Officer

Stuart Paynter, Chief Financial Officer

Sophia Bolhassan, Head of Investor Relations

Consilium Strategic Communications: T: [phone]

Mary-Jane Elliott / Matthew Neal  

About Oxford Biomedica

Oxford Biomedica (LSE:OXB) is a leading, fully integrated, 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, CNS disorders and liver diseases. The Group has also entered into a number of partnerships, including with Novartis, Bristol Myers Squibb, Sio Gene Therapies, Orchard Therapeutics, Santen, Beam Therapeutics and Boehringer Ingelheim, 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 candidate, 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  

 

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