Oxford, UK – 18 June 2014: Oxford BioMedica (“the Company”) (LSE: OXB), the leading gene-based biopharmaceutical company, announces that the Company has repaid in full the amount drawn down from the £5 million secured loan facility agreement, agreed on 19 November 2013 with the Vulpes Life Sciences Fund (“Vulpes”), the Company’s largest shareholder.
On receipt of the £21.6 million (before expenses) raised through the Firm Fundraising and Open Offer, which completed on 17 June 2014, the portion of the Vulpes loan facility which had been drawn down was repaid in full by the Company. The loan agreement has been cancelled and Vulpes has released the security it was granted over certain of the Company’s assets when the loan facility was entered into.
-Ends-