Interim Management Statement

RNS Number : 1289D

Oxford Biomedica PLC

11 May 2012

 



Oxford BioMedica Interim Management Statement

Oxford, UK - 11 May 2012: Oxford BioMedica plc ("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 10 May 2012.

PIPELINE HIGHLIGHTS

LentiVector^® platform

Ocular programmes (gene-based therapies targeting vision loss): partnered with Sanofi

·      First RetinoStat^® Phase I results (n=6) presented at 2012 ARVO Annual Meeting on Monday, 7 May 2012 indicate sustained, dose-related protein expression in the eye

·      Early data show a clear dose response¹, with the 10-fold escalation to dose level 2 (n=3) yielding a similar increase in average protein expression

ProSavin^® (gene-based therapy for Parkinson's disease): development update

·      Phase I/II study successfully met primary endpoints: ProSavin^® is safe, well-tolerated and mediates long-term improvement of motor function, announced in April 2012

·      Summary of data to be presented at the ASGCT 15^th Annual Meeting on Thursday, 17 May 2012

5T4 tumour antigen platform

TroVax^® (therapeutic cancer vaccine): publication in Lung Cancer

·      Article entitled "Overexpression and potential targeting of the oncofoetal antigen 5T4 in malignant pleural mesothelioma" published in Lung Cancer in April 2012 which underpins the upcoming sponsored Phase II study for TroVax^® in mesothelioma

Targeted antibody therapy for cancer: partnered with Pfizer

In April 2012, Pfizer presented data at the American Association for Cancer Research (AACR) entitled "Long-term tumour regression induced by an antibody-drug conjugate that targets 5T4, an oncofetal antigen expressed on tumour-initiating cells".  The results demonstrated that the 5T4 antibody drug conjugate (ADC) exhibited potent anti-tumour activity and induced long-term regressions in several pre-clinical models.  In May 2012, Pfizer also presented data at the Protein Engineering Summit (PEGS) entitled "Targeting tumour-initiating cells with ADCs: The anti-5T4 ADC as an example". The data build on previously published results and demonstrate that, in certain pre-clinical models, treatment with the anti-5T4 ADC can decrease the frequency of tumour initiating cells.  As previously announced, Oxford BioMedica has licensed the exclusive, global right to market antibodies targeting the 5T4 tumour antigen for all human cancer indications to Pfizer.  The next milestone payment to Oxford BioMedica would be due if Pfizer initiates clinical trials.

FINANCIAL REVIEW

The Company's net cash balance² at 31 December 2011, as stated in the annual report and accounts, was £14.3 million.  At 30 April 2012, the Company had a net cash balance² of £9.0 million (unaudited).

OUTLOOK

Subject to receiving MHRA approval, progress remains on track for the Company's proprietary manufacturing facility to be fully-operational in H1 2012. Oxford BioMedica continues to focus on delivering progress across its core programmes and looks forward to encouraging prospects ahead.

John Dawson, Chief Executive Officer of Oxford BioMedica, said: "We are very encouraged by the first RetinoStat^®clinical results indicating sustained therapeutic protein expression in the eye and await further data from our ocular programmes, partnered with Sanofi, later this year.  We are also pleased with Pfizer's continued commitment to the 5T4-targeted antibody programme."

-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, GlaxoSmithKline, MolMed, Sigma-Aldrich, Biogen Idec, Emergent BioSolutions and ImaginAb.  Further information is available at www.oxfordbiomedica.co.uk.

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¹  Unverified data, time point = 8 weeks post-treatment

²  Cash, cash equivalents and current financial assets

 

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