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Click here to download the full 2011 interim results statement.
Click here to download the 2011 interim results slide deck.
Oxford, UK – 31 August 2011: Oxford BioMedica plc (“Oxford BioMedica” or “the Company”) (LSE: OXB), the leading gene-based biopharmaceutical company, today announces its unaudited interim results for the six months ended 30 June 2011. Year to date highlights include:
OPERATIONAL HIGHLIGHTS:
LentiVector ® platform
ProSavin®: Parkinson’s disease
- Positive six-month data from third patient cohort of on-going Phase I/II trial presented at ASGCT 14th Annual Meeting demonstrating 43% average motor function improvement with a 2x dose
- Improvements across patient diary measures further underline potential for ProSavin®to address the motor symptoms of Parkinson’s disease
Ocular gene therapies: partnered with Sanofi
- RetinoStat® Phase I study initiated for treatment of “wet” age-related macular degeneration
- StarGen™ Phase I/IIa study initiated in the US for treatment of Stargardt disease
- US RAC approval received for UshStat® Phase I/IIa study
Manufacturing
- Acquisition of Oxford manufacturing facility for £1.9 million completed in February 2011, with re-commissioning process on-track
5T4 tumour antigen platform
TroVax® (MVA-5T4): therapeutic cancer vaccine
- Further TRIST Phase III analyses published in Cancer Immunology, Immunotherapy identifying specific immune response surrogate algorithm
- Collaborators at Cardiff University and Velindre Cancer Centre, Wales received MHRA and GTAC approval for Phase II study in mesothelioma
Targeted antibody therapy: for cancer
- Collaboration with Pfizer broadened to include in vitro diagnostic use of 5T4 antibodies
- New research collaboration with ImaginAb, Inc. to engineer an in vivo diagnostic imaging agent
FINANCIAL HIGHLIGHTS1:
- Fundraising of £20.0 million before expenses, completed on 10 January 2011
- Revenue of £5.0 million (H1 2010 £5.3 million)
- Research & Development costs of £11.8 million, pre-exceptional £8.7 million (H1 2010 £8.0 million)
- Net loss of £8.1 million, pre-exceptional £5.0 million (H1 2010 £2.9 million)
- Net cash burn2 of £10.7 million (H1 2010: £9.4 million)
- Net cash3 of £20.2 million (H1 2010: £16.3 million)
- Financial resources sufficient to fund operations into Q1 2013
1 Unaudited results
2 Net cash generated by/used in operating activities plus sales and purchases of non-current assets
3 Cash, cash equivalents and available for sale investments
POST PERIOD END HIGHLIGHTS:
- Collaborators at Cardiff University received MHRA approval for TroVax® Phase II study in colorectal cancer in July 2011
- StarGen™ CTA approval received in July 2011 for second clinical site in France
- Positive interim review of fourth ProSavin® patient cohort by DMC in August 2011 with favourable safety profile at the highest (5x) dose
John Dawson, Chief Executive Officer at Oxford BioMedica, said: “We have made good progress across our core technology platforms during the period. In particular, the ProSavin® Phase I/II data set is very promising and we have broadened our clinical development pipeline from two to four programmes with lead ocular candidates RetinoStat® and StarGen™, partnered with Sanofi, entering Phase I/II development. With tight fiscal controls in place we have sufficient financial resources to deliver our clinical results and reach our milestone objectives throughout 2012. We remain committed to building a successful biopharmaceutical company founded on the development and commercialisation of novel gene-based medicines.”
-Ends-
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