Oxford BioMedica plc Interim Results for the Six Months Ended 30 June 2013

Click here to download the full 2013 interim results statement.
Click here to download the 2013 interim results presentation.

Oxford, UK – 29 August 2013: 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 2013.  Year to date highlights include:

OPERATIONAL HIGHLIGHTS:
•Manufacturing: alliances in vector manufacturing, research, development and IP
Novartis development and manufacturing collaboration announced in May:
– Oxford BioMedica to manufacture a lentiviral vector encoding CTL019
– Expected to generate between £2.5 million to £4 million of income over initial 12 months

•Development: LentiVector^® platform evolution supports next generation of products
Sanofi programmes:
– Positive StarGen™ DSMB review of first three patient cohorts (n=12) in Phase I/IIa trial
– UshStat^® video selected to showcase theme of “Life-changing Research” at ARVO 2013
Mayo Clinic, Rochester (USA) collaboration:
– Glaucoma-GT pre-clinical evaluation demonstrated further positive data
– Long-term gene expression out to five months
ProSavin^®
– Non-clinical programme for enhanced product construct on track
New product opportunities:
– Pre-clinical evaluation of new product opportunities ongoing

•Industry collaborations: 5T4 tumour antigen platform
TroVax^® investigator-led Phase II programme:
– Phase II study in mesothelioma underway at Velindre Cancer Centre, Wales

FINANCIAL HIGHLIGHTS¹:
•Revenue of £2.1 million (H1 2012 £4.4 million), including £0.6 million from Novartis collaboration
•Research & Development costs of £6.8 million (H1 2012 £6.9 million)
•Net loss of £5.9 million (H1 2012 £4.9 million)
•Net cash burn² of £7.3 million (H1 2012 £7.8 million)
•Net cash³ at 30 June 2013 of £6.9 million (31 December 2012: £14.1 million)

POST PERIOD END HIGHLIGHTS:
•TroVax® Phase II prostate cancer data and pre-treatment biomarker analyses published in Cancer Immunology, Immunotherapy
•Oxford BioMedica announced as winner of Technology Strategy Board funding award
•US$1 million milestone payment from Pfizer triggered in August
– Phase I clinical trial for 5T4-targeted antibody therapy underway
•Net cash³ at 26 August 2013 of £6.8 million (excluding US$1 million to be received from Pfizer)

1.Unaudited results
2.Net cash used in operating activities plus sales and purchases of non-current assets
3.Cash, cash equivalents and available for sale investments

John Dawson, Chief Executive Officer at Oxford BioMedica, said: “Oxford BioMedica remains at the forefront of UK biopharmaceutical development and innovation and we are proud to be working with industry leaders such as Novartis, Sanofi and Pfizer, and prestigious centres around the world on pioneering gene-based therapies.

“Being an innovator in the field presents its challenges, however we believe our industry alliances provide independent validation of our research, development and manufacturing capabilities, and strong foundations upon which to build a financially self-sustainable company.  Our LentiVector^® gene delivery technology underpins a promising pipeline of product candidates and we continue to seek new sources of revenue, including grant funding awards, in order to maximise our opportunity to bring life-changing treatments to patients.” 

An analyst briefing will be held at 09:30am BST on Thursday, 29 August 2013 at the offices of Consilium Strategic Communications, 11th Floor, CityPoint, 1 Ropemaker Street, London, EC2Y 9AW.  There will be a simultaneous live conference call and the presentation will be available on the Company’s website at www.oxfordbiomedica.co.uk. 

Please visit the website approximately 10 minutes before the conference call, at 09:20am BST, to download the presentation slides.  Conference call details:

Participant dial-in: +44 (0) 1452 555566
Conference ID: 35449628

An audio replay file will be made available shortly afterwards via the Company’s website on the “Media/Download centre/Webcasts and audio” section.   Alternatively, you may listen to the replay by dialling the following number:

Dial-in for replay (available until 05-09-2013): +44 (0) 1452 550000
Conference ID: 35449628

-Ends-