Click here to download the full 2012 preliminary results statement.
Click here to download the 2012 results slide deck.
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Oxford, UK – 27 February 2013: Oxford BioMedica plc (“Oxford BioMedica” or “the Company”) (LSE: OXB), the leading gene-based biopharmaceutical company, today announces its preliminary results for the year ended 31 December 2012.
OPERATIONAL HIGHLIGHTS:
- Sanofi ocular partnership nearing successful conclusion: US$53 million committed to date
– Options exercised for StarGen™ and UshStat® for a total of US$3 million
– Ground-breaking RetinoStat® data show sustained, dose-related protein expression; treatment of final patient cohort ongoing
- LentiVector® platform evolution supports next generation of ocular gene therapies
– Growing clinical data set underscores confidence in the technology platform
– Pre-clinical evaluation of Glaucoma-GT ongoing to maximise proof of concept
– Planning underway for pre-clinical evaluation of four new ocular products
- Manufacturing capability complements commercial strategy
– GMP facility approved to manufacture supplies for clinical studies
– In-house manufacturing and analytical development activities underway to secure future alliances
– Launch of OXB Solutions microsite to showcase leading GMP manufacturing and analytical competences
- Pioneering ProSavin® Phase I/II study successfully met primary endpoints
– ProSavin® is safe, well-tolerated and mediates long-term improvement of motor function
– Non-clinical programme for dose optimisation on track
- Industry collaborations validate Oxford BioMedica’s 5T4 tumour antigen technology
– ImaginAb option exercise for 5T4-targeted in vivo diagnostic for cancer imaging
– Multiple presentations of 5T4-ADC programme by Pfizer at key industry conferences
FINANCIAL HIGHLIGHTS1:
- Fundraising of £11.6 million completed in July 2012; net proceeds £10.1 million
- Revenue of £7.8 million (2011: £7.7 million)
- Research and development costs of £14.0 million (2011: £17.8 million)
- Net loss of £8.7 million (2011: £12.6 million)
- Net cash burn2 of £10.5 million (2011: net cash burn2 £16.5 million)
- Net cash3 of £14.1 million as at 31 December 2012 (2011: £14.3 million)
1. Audited financial results
2. Net cash used in operating activities plus sales and purchases of non-current assets and interest received
3. Cash, cash equivalents and available for sale investments
John Dawson, Chief Executive Officer at Oxford BioMedica, said: “During 2012 we reported positive developments across our core clinical programmes, strengthened our LentiVector® technology platform and secured MHRA approval for our GMP manufacturing plant. Macroeconomic conditions remain challenging, however sentiment towards the biopharmaceutical sector is improving and we are seeing more interest than ever in personalised medicines and niche disease indications, all of which positions Oxford BioMedica well for further developments in the year ahead.”
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