Oxford, UK – 13 October 2014: Oxford BioMedica plc (“Oxford BioMedica” or “the Company”) (LSE: OXB), a leading gene and cell therapy company, announces that it has acquired the freehold of the Windrush Court office and laboratory facilities in Transport Way, Oxford, England, for a total cash consideration of £3.2 million from Oxford Real Estate Owner No. 2 Limited.
Windrush Court, a 6,684 sq m facility, is located directly opposite Oxford BioMedica’s manufacturing facility and the Company intends to relocate its laboratories and office activities there in stages before the current lease of the Medawar Centre, Oxford expires in March 2016. The purchase of Windrush Court will enable the Company to consolidate its entire activities in Transport Way, improving operational effectiveness, and will also provide additional capacity to accommodate the planned growth in business activities. As a result of the expected savings in rental costs and service charges, Oxford BioMedica expects to recover the purchase cost within 4 years.