Oxford, UK – 16 May 2013: Oxford BioMedica (“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 15 May 2013.
OPERATIONAL HIGHLIGHTS
LentiVector® platform manufacturing
• New manufacturing collaboration with Novartis expected to generate between £2.5 million to £4 million of income over the next 12 months
Ocular product development
• Positive DSMB review of first three patient cohorts (n=12) in ongoing StarGen™ Phase I/IIa trial in April
• UshStat® video selected to showcase theme of “Life-changing Research” at 2013 ARVO annual meeting
5T4 tumour antigen platform industry collaborations
• First patient treated with TroVax® in Phase II mesothelioma study led by Velindre Cancer Centre, Wales
Targeted antibody therapy for cancer partnered with Pfizer
• Multiple presentations of the 5T4 antibody drug conjugate (ADC) programme by Pfizer at key conferences:
? American Association for Cancer Research (AACR) annual meeting in April 2013
? The Ninth Annual PEGS, the essential protein & antibody engineering summit, in April 2013
FINANCIAL REVIEW
Oxford BioMedica’s net cash1 balance at 31 December 2012, as stated in the annual report, was £14.1 million (audited). At 30 April 2013, the Company had a net cash1balance of £9.2 million (unaudited). Including income from the recently announced Novartis collaboration, the Company now has sufficient cash1 resources to fund operations into Q2 2014.
1. Cash, cash equivalents and available for sale investments
OUTLOOK
Oxford BioMedica remains focused on completing the RetinoStat® Phase I study, generating further income from manufacturing, alliances and intellectual property, as well as initiating pre-clinical development of the next generation of ocular product opportunities.
John Dawson, Chief Executive Officer of Oxford BioMedica, said: “We have made a strong start to 2013 having secured a revenue-generating lentiviral vector manufacturing alliance. We believe this not only validates our manufacturing capabilities, but is also a key step towards turning Oxford BioMedica into a company that is financially self-sustaining. Having extended our financial resources into Q2 2014, we look forward to opportunities ahead and remain confident in our ability to deliver our strategic goals.”
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