Hardman Research: Major deal to supply Novartis

RNS Number : 4476K

Oxford Biomedica PLC

07 July 2017

 

Hardman Research: Major deal to supply Novartis

Major deal to supply Novartis CAR-T programmes - OXB is a specialist gene and cell therapy viral-vector biopharmaceutical company. It offers vector manufacturing and development services, whilst retaining its own proprietary therapeutic candidates. Above service-fees, OXB will receive royalties on commercial products developed with its LentiVector® platform. OXB has made two significant announcements during the past week which reduce risk and greatly improve sentiment towards the stock. First, refinancing of its existing loan with a new, more favourable debt facility from Oakland Capital. Secondly, a deal with Novartis to supply vector for use in the manufacture of certain CAR-T therapies.

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