London, UK – 5 October 2018: Oxford BioMedica plc (“Oxford BioMedica” or “the Group”) (LSE:OXB), a leading gene and cell therapy group, today announces additional details of its strategic alliance with Orchard Therapeutics, as disclosed in the public filing by Orchard Therapeutics on a Form F-1 Registration Statement ahead of a planned NASDAQ Initial Public Offering (IPO).
In November 2016, Oxford BioMedica entered into a strategic alliance with Orchard Therapeutics for the development of gene therapies for ADA-SCID, MPS-IIIA and certain other diseases (Subsequent Indications).
In the agreement, Oxford BioMedica granted to Orchard Therapeutics an exclusive, worldwide license for the research, development and commercialisation of ex vivo gene therapy products for the treatment of ADA-SCID, MPS-IIIA and Subsequent Indications. Oxford BioMedica also granted Orchard Therapeutics a non-exclusive, worldwide license for the treatment of certain diseases other than ADA-SCID, MPS-IIIA and Subsequent Indications.
As consideration for the licenses granted under the agreement, Oxford BioMedica was issued 735,000 ordinary shares in Orchard Therapeutics. Additional shares were awarded to the Group on the achievement of certain milestones, including 188,462 ordinary shares in November 2017 and a further 188,462 ordinary shares in August 2018. Additional ordinary shares will be issued to Oxford BioMedica upon achievement of the remaining milestones. Oxford BioMedica currently owns 1,111,924 shares in Orchard Therapeutics (pre any share capital reorganisation which may be undertaken as part of the IPO process).
Additionally, Oxford BioMedica will receive a low single-digit royalty on net sales of licensed products until January 31, 2039. In the event the products are used for compassionate use, these royalties are reduced by a mid-double-digit percentage. Orchard Therapeutics is also required to pay a set monthly fee to Oxford BioMedica in the event the Group’s system for generating stable cell lines is used.
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For further information, please contact:
Oxford BioMedica plc:
John Dawson, Chief Executive Officer
Stuart Paynter, Chief Financial Officer
Tel: +44 (0)1865 783 000
Financial PR Enquiries:
Consilium Strategic Communications
Mary-Jane Elliott/Matthew Neal/Olivia Manser/Laura Thornton
Tel: +44 (0)20 3709 5700