OXB by the numbers
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Years of viral vector experience
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Commercial supplier of lentiviral vectors for a CAR-T therapy
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GMP batches released
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GMP suites in three countries
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Client programmes
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Qualified assays and methods performed in-house
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Successful audits
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Company to treat patients in-vivo with lentiviral vector gene therapy
We offer end-to-end development and production capabilities for many viral vector types, from plasmid design and optimisation to clinical and commercial GMP manufacturing. These capabilities are supported by robust control systems, advanced analytical methods, and in-depth knowledge of global regulatory requirements.
About OXB
We are deeply committed to producing high-quality viral vectors, recognizing their crucial role in cell and gene therapies that bring hope to patients around the world. At OXB, we embrace this responsibility and understand that your success is our success.
Our platforms
Tech transferred-in
Alongside our own LentiVector™ and inAAVate™ platform technologies, we have the facilities and expertise to fulfil almost any development need. You define the methods and processes, and we leverage our class-leading capabilities as appropriate.
Discover our latest news
OXB honoured at 2025 CDMO Leadership Awards in ‘Cell & Gene Therapy – Global’ category
Oxford, UK – 21 March 2025: OXB (LSE: OXB) (the “Company”), a quality and innovation-led cell and gene therapy CDMO, today announces that the Company has been recognised as a winner in the ‘Cell & Gene Therapy – Global’ category at the 2025 CDMO Leadership Awards. The annual CDMO Leadership Awards recognise excellence in contract development and manufacturing based on independent surveys from leading global biopharma and biotechnology companies. The awards use feedback exclusively from experienced industry leaders to evaluate CDMOs across key performance metrics. OXB’s recognition reflects the Company’s excellence in quality, innovation and service capabilities across its integrated global network of facilities, and highlights its growing position as a world-leading cell and gene therapy CDMO. Dr. Sebastien Ribault, Chief Business Officer of OXB, said: “We are honoured to receive this recognition which validates our successful transformation into a pure-play cell and gene therapy CDMO. This award reflects both our 30-year heritage of innovation in viral vectors and the success of our ‘One OXB’ multi-vector, multi-site strategy across the UK, US and France. Most importantly, it acknowledges our team’s commitment to quality and collaboration as we work alongside our clients to enable the delivery of life-changing therapies to patients worldwide.” This industry recognition coincides with a period of strong commercial momentum for OXB, with growing demand for its CDMO services across all key viral vector types and an expanding global client portfolio spanning multiple development stages from early clinical work through to commercialisation. Enquiries: OXB: Sebastien Ribault, Chief Business Officer – T: +44 (0) 1865 783 000 / E: partnering@oxb.com ICR Healthcare: T: +44 (0)20 3709 5700 / E: oxb@icrhealthcare.com Mary-Jane Elliott / Angela Gray / Davide Salvi About OXB OXB (LSE: OXB) is a quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, OXB has 30 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. OXB collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus and other viral vector types. OXB’s world-class capabilities span from early stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. OXB offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the TetraVecta™ system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.
OXB to present at the Leerink Partners Global Healthcare Conference
Oxford, UK – 26 February 2025: OXB (LSE: OXB), a global quality and innovation-led cell and gene therapy CDMO, today announces that Dr. Lucinda Crabtree, Chief Financial Officer, will take part in a fireside chat at the Leerink Partners Global Healthcare Conference in Miami, Florida on Tuesday, 11 March 2025 at 2:20 PM EDT / 6:20 PM GMT. A live webcast of the fireside chat will be available on the ‘Investor Relations’ section of OXB’s website under ‘Results, Reports, Presentations & Webcasts’ at www.oxb.com. A replay will be accessible following the event. Enquiries: OXB: Sophia Bolhassan, Head of Investor Relations – T: +44 (0) 1865 509 737 / E: ir@oxb.com ICR Healthcare: T: +44 (0)20 3709 5700 / E: oxb@icrhealthcare.com Mary-Jane Elliott / Angela Gray / Davide Salvi About OXB OXB (LSE:OXB) is a global quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, OXB has 30 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. OXB collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus and other viral vector types. OXB’s world-class capabilities span from early-stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. OXB offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the TetraVecta™ system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.
OXB’s lentiviral vector manufacturing technology to support Boehringer Ingelheim’s newly initiated Phase I/II trial of first-in-class gene therapy for cystic fibrosis
Oxford, UK – 20 February 2025: OXB (LSE:OXB), a global quality and innovation-led cell and gene therapy CDMO, today announces that its proprietary lentiviral vector manufacturing technology will be used in Boehringer Ingelheim’s newly initiated LENTICLAIR™ 1 trial. The Phase I/II study is evaluating BI 3720931, a novel, first-in-class, inhaled gene therapy for the treatment of cystic fibrosis (CF). With three decades of expertise in viral vector development and manufacturing, OXB will support the development of this potential treatment for CF, a genetic condition caused by mutations in the CFTR gene that affects more than 100,000 people worldwide. While CFTR modulators have provided treatment options for some patients, there remains a significant unmet need for 10-15% of people with CF due to mutation type or modulator intolerance. BI 3720931 is a first-in-class, inhaled lentiviral vector-based gene therapy designed to address this need through a novel approach of inserting a functional copy of the CFTR gene in the DNA of airway epithelial cells. This trial builds on the successful collaboration initiated in August 2018 with Boehringer Ingelheim. OXB’s ongoing role in this programme highlights its reputation as a trusted CDMO and its commitment to advancing pioneering gene therapies that address significant unmet needs. Frank Mathias, Chief Executive Officer of OXB, said: “We are delighted that Boehringer Ingelheim is using OXB’s proprietary lentiviral vector manufacturing technology for the clinical development of their CF gene therapy. This programme has the potential to transform the lives of patients living with CF and exemplifies OXB’s commitment to supporting cutting-edge cell and gene therapies. We look forward to playing a key role in its progression.” Enquiries: OXB: Sebastien Ribault, Chief Business Officer – T: +44 (0) 1865 783 000 / E: partnering@oxb.com ICR Healthcare: T: +44 (0)20 3709 5700 / E: oxb@icrhealthcare.com Mary-Jane Elliott / Angela Gray / Davide Salvi About OXB OXB (LSE:OXB) is a global quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life-changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, OXB has 30 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. OXB collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus and other viral vector types. OXB’s world-class capabilities span from early-stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. OXB offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the TetraVecta™ system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube. About Boehringer Ingelheim Boehringer Ingelheim is a biopharmaceutical company active in both human and animal health. As one of the industry’s top investors in Research and Development, the company focuses on developing innovative therapies in areas of high unmet medical need. Independent since its foundation in 1885, Boehringer takes a long-term perspective, embedding sustainability along the entire value chain. More than 53,500 employees serve over 130 markets to build a healthier, more sustainable, and equitable tomorrow. Learn more at https://www.boehringer-ingelheim.com.
Full Year Trading Update and Notice of Preliminary Results
Oxford, UK – 17 February 2025: OXB (LSE:OXB) (“the Company”), a global quality and innovation-led cell and gene therapy CDMO, today provides a trading update for the full year ended 31 December 2024. Dr. Frank Mathias, Chief Executive Officer of OXB, commented: “We are continuing to execute our multi-vector, multi-site “One OXB” strategy, and have successfully transformed our business into a pure-play CDMO. Our competitive advantage is reflected in our strong financial performance, with at least 78% organic revenue growth in the full year and our order book almost doubling since August, demonstrating the increasing demand for our CDMO services. Alongside strong commercial momentum, we have seen a strong improvement in our operating EBITDA as we progress towards profitability in 2025. With our unique positioning and long track record of 30 years, we are well positioned to capture a growing share of the expanding cell and gene therapy market and create significant value for our shareholders.” Strong 2024 performance in line with guidance with further strong progress expected in 2025 For the year ended 31 December 2024, OXB expects to report revenues of between £127 million and £129 million, in line with guidance of £126 million – £134 million and representing an increase of 42% – 44% over 2023 and organic growth of 78% – 81%. Organic growth excludes the impact of the acquisition of OXB France and the loss of revenues from Homology Medicines, Inc. The Company expects an operating EBITDA profit in the second half of 2024. Following the integration of OXB France and investments in technical and operational hires to support increased client activity, the Company expects a mid to high-teens Operating EBITDA loss for the full year 2024. With the UK site becoming profitable at the operating EBITDA level in the second half of 2024 and the France and US sites expected to have narrowing losses, the Company is confident of its ability to deliver sustainable profitability. OXB closed the year with a strong balance sheet, with a gross cash position of £60.7 million and a net cash position of £20.6 million. Revenue backlog1 stood at approximately £150 million as at 31 December 2024 compared to £94 million as at 31 December 2023. Given the strength of demand the Company is seeing, the commercial momentum in the business and the successful execution of the “One OXB” strategy, management is confident of delivering another year of strong progress on revenues and EBITDA profitability in 2025, in line with its existing guidance. Continued commercial momentum with growth in order book The Company continues to experience strong demand for its CDMO services with consistently positive client conversion seen in both new lentivirus and AAV orders as well as other viral vectors, further strengthening the portfolio of client programmes across a diverse customer base. The contracted value of client orders2 signed during 2024 reached approximately £186 million as at 31 December 2024, an increase of more than 30% compared to £138 million in 20233, supporting confidence in delivering further revenue growth in 2025. Growth accelerated meaningfully in September through to December, in which time OXB generated approximately half of the total order value signed during the year with good progress seen for the US site, giving the Company strong momentum to carry into 2025. Orders in the second half of 2024 included additional batches for late-stage programmes with clients preparing for commercialisation of their CAR-T products, as well as an increase in orders for new AAV clients. Additionally, an undisclosed US-based client preparing for a commercial launch has secured dedicated space at Oxbox, the Company’s Oxford-based manufacturing facility, ensuring long-term partnership stability and optimised capacity utilisation. “One OXB” CDMO strategy The Company’s “One OXB” multi-vector, multi-site strategy continues to progress well, with integration across its global network of sites advancing to plan, and a balanced portfolio of early and late stage projects, comprising lentivirus, AAV and other viral vectors. In the second half of 2024, OXB successfully enabled lentiviral vector manufacturing at its sites in France, which is already generating revenues from clients. Notice of Preliminary Results OXB will report its Preliminary Results for the twelve months ended 31 December 2024 on Wednesday 9 April 2025. A briefing for investors and analysts will take place at 13:00 BST / 08:00 ET at RBC Capital Markets, 100 Bishopsgate, London, EC2N 4AA. 1Revenue backlog represents the ordered gross value of CDMO revenues available to earn. The value of customer orders included in revenue backlog only includes the value of work for which the customer has signed a financial commitment for OXB to undertake, whereby any changes to agreed values will be subject to change orders, cancellation fees or the triggering of optional/contingent contractual clauses. 2Contracted value of client orders represent the value of customer orders for which the customer has signed a financial commitment, whereby any changes to agreed values will be subject to either change orders, cancellation fees or the triggering of optional/contingent contractual clauses. 3Includes contributions from milestones, licensing and royalties. -Ends- Enquiries: OXB: Sophia Bolhassan, Head of Investor Relations – T: +44 (0) 1865 509 737 / E: ir@oxb.com ICR Healthcare: T: +44 (0)20 3709 5700 / E: oxb@icrhealthcare.com Mary-Jane Elliott / Angela Gray / Davide Salvi About OXB OXB (LSE:OXB) is a global quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, OXB has 30 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. OXB collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus and other viral vector types. OXB’s world-class capabilities span from early stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. OXB offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the TetraVecta™ system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.
OXB to host a free webinar on accelerating development of viral vectors through automated manufacturing and analytical development
Oxford, UK – 20 November 2024: OXB (LSE:OXB), a quality and innovation-led cell and gene therapy CDMO, today announces that it will host a free 60-minute webinar exploring how advanced robotics can be used to speed up the development of viral vector drug products. The webinar titled “Accelerating Viral Vector Manufacturing: the Use of Automation from Early Stage to QC Release” will be held on Monday 9 December 2024 at 16:00 GMT / 11:00 EST / 17:00 CET. The webinar will feature presentations by: André Raposo, PhD, Director, Innovation Department at OXB Gareth McCathie, PhD, Group Lead, Innovation Department at OXB Thomas Evans, Principal Scientist, Innovation Department at OXB The speakers will showcase OXB’s automation expertise in viral vector manufacturing, highlighting how automated systems and digital tools are used to optimise production processes and analytical workflows. The presentation will include case studies on transfection optimisation and the implementation of automated analytical methods such as qPCR, ELISA, and cell-based assays. The presentations will be followed by a live Q&A session. To register for the webinar, please click here. Enquiries: OXB: Sebastien Ribault, Chief Business Officer – T: +44 (0) 1865 509 737 / E: partnering@oxb.com ICR Healthcare: T: +44 (0)20 3709 5700 / E: oxb@icrhealthcare.com Mary-Jane Elliott / Angela Gray / Davide Salvi About OXB OXB (LSE:OXB) is a quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, OXB has more than 25 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. OXB collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus and other viral vector types. OXB’s world-class capabilities span from early stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. OXB offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the Tetravecta™ system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.
Board changes
Oxford, UK – 18 November 2024: OXB (LSE:OXB), a quality and innovation-led cell and gene therapy CDMO, today announces the appointment of Colin Bond as a Non-Executive Director effective 1 January 2025. Mr. Bond will also join the Audit Committee as part of succession planning ahead of Stuart Henderson losing his independent status as a Non-Executive Director in June 2025. Colin Bond has a wealth of international experience in the CDMO and biopharma industries and was most recently Chief Financial Officer of Sandoz listed on the SIX Swiss Exchange, where he played a key role in the company’s successful spin-off from Novartis. Prior to Sandoz, Mr. Bond was Chief Financial Officer of Vifor Pharma and Evotec. He also served as Chair of the Audit Committee for Siegfried AG, a leading CDMO quoted on the SIX Swiss Exchange, for ten years until May 2023. He is currently Chair of the Audit Committee of BioPharma Credit PLC on the London Stock Exchange and a member of the Supervisory Board of Formycon AG. During his early career, Mr. Bond worked as a pharmacist, auditor and management consultant for Procter & Gamble, Arthur Andersen and PwC. Mr. Bond is a Fellow of the Institute of Chartered Accountants in England and Wales and a Member of the Royal Pharmaceutical Society of Great Britain. He holds a BSc in Pharmacy from Aston University and an MBA from London Business School. Additionally, OXB announces that Leone Patterson has informed the Board of her decision to step down as a Non-Executive Director on 31 December 2024 in order to focus on her new responsibilities following her recent appointment as Chief Business and Financial Officer of Zymeworks. Dr. Roch Doliveux, Chair of OXB, commented: “Colin is a highly strategic operator with extensive international CDMO and healthcare sector expertise plus first-rate technical accounting credentials. He is well regarded by the investment community and has overseen organisations that have undergone significant growth and transformation. On behalf of the Board, I am delighted to welcome Colin to OXB and thoroughly look forward to working with him. I would also like to thank Leone for her sharp analytical insights and active contributions to OXB during her tenure on the Board and wish her the very best with her new responsibilities.” Colin Bond, incoming Board member at OXB, said: “OXB’s position as a leader in cell and gene therapy manufacturing, combined with its innovative approach and strong client partnerships, presents a compelling opportunity that I have recently watched with interest. I am excited to join the Board at this important time and look forward to working with the team to support OXB’s continued growth and success in enabling the delivery of life-changing therapies to patients worldwide.” Relevant disclosures Save as disclosed, there are no disclosures required to be made in accordance with UKLR 6.4.8(R). Enquiries: OXB: Sophia Bolhassan, Head of Investor Relations – T: +44 (0) 1865 509 737 / E: ir@oxb.com ICR Healthcare: T: +44 (0)20 3709 5700 / E: oxb@icrhealthcare.com Mary-Jane Elliott / Angela Gray / Davide Salvi About OXB OXB (LSE:OXB) is a quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, OXB has more than 25 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. OXB collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus and other viral vector types. OXB’s world-class capabilities span from early stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. OXB offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the Tetravecta™ system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.
OXB to present at the Jefferies London Healthcare Conference
Oxford, UK – 15 November 2024: OXB (LSE:OXB), a quality and innovation-led cell and gene therapy CDMO, today announces that Dr. Frank Mathias, Chief Executive Officer, will present at the Jefferies London Healthcare Conference on Tuesday, 19 November 2024 at 10:00am GMT. Dr. Lucy Crabtree, Chief Financial Officer, will also be participating in the conference. The presentation will be made available in the Investors section of OXB’s website at www.oxb.com. Enquiries: OXB: Sophia Bolhassan, Head of Investor Relations – T: +44 (0) 1865 509 737 / E: ir@oxb.com ICR Healthcare: T: +44 (0)20 3709 5700 / E: oxb@icrhealthcare.com Mary-Jane Elliott / Angela Gray / Davide Salvi About OXB OXB (LSE:OXB) is a quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, OXB has more than 25 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. OXB collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus and other viral vector types. OXB’s world-class capabilities span from early stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. OXB offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the Tetravecta™ system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.
Oxford Biomedica PLC interim results for the six months ended 30 June 2024
Delivering Pure-Play CDMO Growth Strategy Continued execution of “One OXB” strategy with global integration progressing across UK, US and French operations Existing near-term and medium-term financial guidance reiterated, supported by positive growth trajectory of the business Continued strong demand for OXB’s CDMO services, with an increase in number of late stage programmes Client portfolio is maturing and now includes 37 clients and 48 programmes as of September 2024 (September 2023:24 clients and 41 programmes), representing a growth of 54% for clients and 17% for programmes year-on-year Successfully onboarded multiple new clients, including signing 7 early-stage AAV programmes in the US Currently supporting late stage activities for 4 clients preparing for commercial launch of CAR-T products, compared to 1 late stage programme in September 2023 Strong commercial KPIs underpin expected momentum in second half of 2024 and beyond: Contracted value of client orders in the first eight months of the year reflect strong demand for CDMO services at approximately £94 million; this is supported by a high level of GMP suite utilisation for 2025 The total potential revenue pipeline grew by 29% from $438 million to $565 million, since the start of the year (as of 13 September 2024) Post-period end, Lucinda Crabtree joined as CFO on 2 September; transition process well-progressed Oxford, UK – 23 September 2024: OXB (LSE:OXB), a quality and innovation-led cell and gene therapy CDMO, today announces interim results for the six months ended 30 June 2024. Dr. Frank Mathias, OXB’s Chief Executive Officer, said: “The first half of 2024 has been a period of significant progress for OXB as we continue to execute our multi-vector, multi-site ‘One OXB’ strategy. “The integration of our global network of sites is progressing well, delivering operational benefits that enhance our ability to meetdiverse client needs and accelerate project timelines. We’ve experienced strong demand across our viral vector services, with particularly robust revenue growth in lentiviral vector manufacturing. Importantly, we’re also seeing encouraging progress in AAV,including the signing of several new early stage programmes in the US. “Our commercial momentum is strong across all our key regions – the UK, US and France. We’re particularly pleased with the growth in our late-stage programmes, now supporting late stage activities for four clients preparing for commercial launch of CAR-T products. “The positive trajectory of our key performance indicators, including our growing revenue backlog and the high level of GMP suite reservations for 2025, gives us confidence in our future performance. These metrics reflect the increasing maturity ofour client programmes and the growing demand for our services in the cell and gene therapy sector. “As we look ahead, we remain focused on further integrating our operations and growing our global portfolio of clients and projects across all stages of clinical development. I’m proud of the OXB team whose expertise and dedication are driving our achievements, enabling our clients to deliver life-changing therapies to patients and create long-term value for our shareholders.” FINANCIAL HIGHLIGHTS (including post-period events) Double-digit revenue growth; total revenues increased by 18% to £50.8 million (H1 2023: £43.1 million). Organic revenue growth was 38%. Organic growth excludes the impact of the acquisition of OXB France and the loss of revenues from Homology Medicines, Inc (“Homology”). Revenue growth was driven by higher levels of manufacturing and commercial development activity, including: New client acquisition and revenue growth in lentiviral vector manufacturing as a result of an increase in the number ofbatches manufactured and clients transitioning to Process C, OXB’s best-in-class perfusion bioreactor process for lentiviral vector manufacturing. New contributions from OXB France following the acquisition of ABL Europe in January 2024, total revenues in France of £5.7 million in H1 2024. Offset by a decline in US revenues due to Homology ceasing clinical activities, revenues from Homology in H1 2024 were £0.2 million (H1 2023: £12.9 million). Lower cost base as a result of the 2023 reorganisation: Operating EBITDA loss of £(20.3) million (H1 2023: £(33.7 million) and operating loss of £(32.2) million (H1 2023: £(50.7) million). Sufficient capital to achieve current strategic plan: Cash at 30 June 2024 was £81.4 million (31 Dec 2023: £103.7 million); Net cash was £41.7 million (31 Dec 2023: £65.2 million). Commercial KPIs underpin expected momentum for the second half of 2024 and beyond: The contracted value of client orders1 signed during the first 8 months of 2024 was approximately £94 million as at 31 August 2024. Revenue backlog2as at 31 August 2024 stood at approximately £120 million, compared to £94 million at 31 December 2023. This is the amount of future revenue available to earn from current orders. OUTLOOK AND FINANCIAL GUIDANCE The Group reiterates its existing near-term and medium-term financial guidance communicated to the market: 2024 total Group revenues of between £126 million and £134 million, with a three-year revenue CAGR of more than 35% for 2023-2026. Low double-digit Operating EBITDA loss in 2024, including the impact of the acquisition of OXB France and investment in talent to support increased late stage client activity in 2025. The Group expects to achieve Operating EBITDA margins in excess of 20% by the end of 2026, and to be profitable on an EBITDA level in 2025. 1 Contracted value of client orders represent the value of customer orders for which the customer has signed a financial commitment, whereby any changes to agreed values will be subject to either change orders or cancellation fees. 2 Revenue backlog represents ordered CDMO revenues available to earn. It is calculated on a cumulative basis by adding new contracted client orders less the value of revenues already recognised or no longer available after project scope adjustments or cancellations. ANALYST BRIEFING OXB’s management team, led by Dr. Frank Mathias, CEO, Dr. Lucinda Crabtree, CFO and Dr. Sebastien Ribault, CBO will behosting a briefing and Q&A session for analysts at 13:00 BST / 8:00 EST today, 23 September, at Chartered Accountants Hall, One Moorgate Place, London EC2R 6EA, United Kingdom. A live webcast of the presentation will be available via this link. The presentation will be available on OXB’s website at www.oxb.com If you would like to dial in to the call and ask a question during the live Q&A, please email OXB@icrhealthcare.com Read the OXFORD BIOMEDICA PLC interim results for the six months ended 30th June 2024: Download PDF here NOTES Unless otherwise defined, terms used in this announcement shall have the same meaning as those used in the Annual report and accounts. ENQUIRIES Oxford Biomedica plc T: +44 (0)1865 509 737/ E: ir@oxb.com Sophia Bolhassan, Head of Investor Relations ICR Consilium T: +44 (0)20 3709 5700 / E: OXB@icrhealthcare.com Mary-Jane Elliott Angela Gray Davide Salvi RBC Capital Markets (Joint Corporate Brokers): T: +44 (0)20 7653 4000 Rupert Walford Kathryn Deegan JP Morgan (Joint Corporate Brokers): T: +44 (0)207 1347329 James Mitford Manita Shinh Jem de los Santos ABOUT OXB OXB (LSE:OXB) is a quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, OXB has more than 25 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. OXB collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus and other viral vector types. OXB’s world-class capabilities span from early stage development tocommercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. OXB offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the Tetravecta™ system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.