OXB by the numbers
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Years of viral vector experience
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Commercial supplier of lentiviral vectors for a CAR-T therapy
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GMP batches released
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GMP suites in three countries
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Client programmes
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Qualified assays and methods performed in-house
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Successful audits
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Company to treat patients in-vivo with lentiviral vector gene therapy
We offer end-to-end development and production capabilities for many viral vector types, from plasmid design and optimisation to clinical and commercial GMP manufacturing. These capabilities are supported by robust control systems, advanced analytical methods, and in-depth knowledge of global regulatory requirements.
About OXB
We are deeply committed to producing high-quality viral vectors, recognizing their crucial role in cell and gene therapies that bring hope to patients around the world. At OXB, we embrace this responsibility and understand that your success is our success.
Our platforms
Tech transferred-in
Alongside our own LentiVector® and inAAVate™ platform technologies, we have the facilities and expertise to fulfil almost any development need. You define the methods and processes, and we leverage our class-leading capabilities as appropriate.
Discover our latest news
OXB to host a free webinar on accelerating development of viral vectors through automated manufacturing and analytical development
Oxford, UK – 20 November 2024: OXB (LSE: OXB), a quality and innovation-led cell and gene therapy CDMO, today announces it will host a free 60-minute webinar exploring how advanced robotics can be used to speed up the development of viral vector drug products. The webinar titled “Accelerating Viral Vector Manufacturing: The Use of Automation from Early Stage to QC Release” will be held on Monday 9 December 2024 at 16:00 GMT / 11:00 EST / 17:00 CET. The webinar will feature presentations by: André Raposo, PhD, Director, Innovation Department at OXB Gareth McCathie, PhD, Group Lead, Innovation Department at OXB Thomas Evans, Principal Scientist, Innovation Department at OXB The speakers will showcase OXB’s automation expertise in viral vector manufacturing, highlighting how automated systems and digital tools are used to optimise production processes and analytical workflows. The presentation will include case studies on transfection optimisation and the implementation of automated analytical methods such as qPCR, ELISA, and cell-based assays. The presentations will be followed by a live Q&A session. To register for the webinar, please click here. Enquiries OXB: Sebastien Ribault, Chief Business Officer – T: +44 (0) 1865 509 737 / E: partnering@oxb.com ICR Healthcare: T: +44 (0)20 3709 5700 / E: oxb@icrhealthcare.com Mary-Jane Elliott / Angela Gray / Davide Salvi About OXB OXB (LSE: OXB) is a quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life-changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, OXB has more than 25 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. OXB collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus and other viral vector types. OXB’s world-class capabilities span from early-stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. OXB offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the TetraVecta™ system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.
Board changes
Oxford, UK – 18 November 2024: OXB (LSE: OXB), a quality and innovation-led cell and gene therapy CDMO, today announces the appointment of Colin Bond as a Non-Executive Director effective 1 January 2025. Mr. Bond will also join the Audit Committee as part of succession planning ahead of Stuart Henderson losing his independent status as a Non-Executive Director in June 2025. Colin Bond has a wealth of international experience in the CDMO and biopharma industries and was most recently Chief Financial Officer of Sandoz listed on the SIX Swiss Exchange, where he played a key role in the company’s successful spin-off from Novartis. Prior to Sandoz, Mr. Bond was Chief Financial Officer of Vifor Pharma and Evotec. He also served as Chair of the Audit Committee for Siegfried AG, a leading CDMO quoted on the SIX Swiss Exchange, for ten years until May 2023. He is currently Chair of the Audit Committee of BioPharma Credit PLC on the London Stock Exchange and a member of the Supervisory Board of Formycon AG. During his early career, Mr. Bond worked as a pharmacist, auditor and management consultant for Procter & Gamble, Arthur Andersen and PwC. Mr. Bond is a Fellow of the Institute of Chartered Accountants in England and Wales and a Member of the Royal Pharmaceutical Society of Great Britain. He holds a BSc in Pharmacy from Aston University and an MBA from London Business School. Additionally, OXB announces that Leone Patterson has informed the Board of her decision to step down as a Non-Executive Director on 31 December 2024 in order to focus on her new responsibilities following her recent appointment as Chief Business and Financial Officer of Zymeworks. Dr. Roch Doliveux, Chair of OXB, commented: “Colin is a highly strategic operator with extensive international CDMO and healthcare sector expertise plus first-rate technical accounting credentials. He is well regarded by the investment community and has overseen organisations that have undergone significant growth and transformation. On behalf of the Board, I am delighted to welcome Colin to OXB and thoroughly look forward to working with him. I would also like to thank Leone for her sharp analytical insights and active contributions to OXB during her tenure on the Board and wish her the very best with her new responsibilities.” Colin Bond, incoming Board member at OXB, said: “OXB’s position as a leader in cell and gene therapy manufacturing, combined with its innovative approach and strong client partnerships, presents a compelling opportunity that I have recently watched with interest. I am excited to join the Board at this important time and look forward to working with the team to support OXB’s continued growth and success in enabling the delivery of life-changing therapies to patients worldwide.” Relevant disclosures Save as disclosed, there are no disclosures required to be made in accordance with UKLR 6.4.8(R). Enquiries: OXB: Sophia Bolhassan, Head of Investor Relations – T: +44 (0) 1865 509 737 / E: ir@oxb.com ICR Healthcare: T: +44 (0)20 3709 5700 / E: oxb@icrhealthcare.com Mary-Jane Elliott / Angela Gray / Davide Salvi About OXB OXB (LSE: OXB) is a quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, OXB has more than 25 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. OXB collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus and other viral vector types. OXB’s world-class capabilities span from early stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. OXB offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the Tetravecta™ system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.
OXB to present at the Jefferies London Healthcare Conference
Oxford, UK – 15 November 2024: OXB (LSE: OXB), a quality and innovation-led cell and gene therapy CDMO, today announces that Dr. Frank Mathias, Chief Executive Officer, will present at the Jefferies London Healthcare Conference on Tuesday, 19 November 2024 at 10:00am GMT. Dr. Lucy Crabtree, Chief Financial Officer, will also be participating in the conference. The presentation will be made available in the Investors section of OXB’s website at www.oxb.com. Enquiries: OXB: Sophia Bolhassan, Head of Investor Relations – T: +44 (0) 1865 509 737 / E: ir@oxb.com ICR Healthcare: T: +44 (0)20 3709 5700 / E: oxb@icrhealthcare.com Mary-Jane Elliott / Angela Gray / Davide Salvi About OXB OXB (LSE: OXB) is a quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, OXB has more than 25 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. OXB collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus and other viral vector types. OXB’s world-class capabilities span from early stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. OXB offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the Tetravecta™ system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.
Oxford Biomedica PLC interim results for the six months ended 30 June 2024
Delivering Pure-Play CDMO Growth Strategy Continued execution of “One OXB” strategy with global integration progressing across UK, US and French operations Existing near-term and medium-term financial guidance reiterated, supported by positive growth trajectory of the business Continued strong demand for OXB’s CDMO services, with an increase in number of late stage programmes Client portfolio is maturing and now includes 37 clients and 48 programmes as of September 2024 (September 2023:24 clients and 41 programmes), representing a growth of 54% for clients and 17% for programmes year-on-year Successfully onboarded multiple new clients, including signing 7 early-stage AAV programmes in the US Currently supporting late stage activities for 4 clients preparing for commercial launch of CAR-T products, compared to 1 late stage programme in September 2023 Strong commercial KPIs underpin expected momentum in second half of 2024 and beyond: Contracted value of client orders in the first eight months of the year reflect strong demand for CDMO services at approximately £94 million; this is supported by a high level of GMP suite utilisation for 2025 The total potential revenue pipeline grew by 29% from $438 million to $565 million, since the start of the year (as of 13 September 2024) Post-period end, Lucinda Crabtree joined as CFO on 2 September; transition process well-progressed Oxford, UK – 23 September 2024: OXB (LSE: OXB), a quality and innovation-led cell and gene therapy CDMO, today announces interim results for the six months ended 30 June 2024. Dr. Frank Mathias, OXB’s Chief Executive Officer, said: “The first half of 2024 has been a period of significant progress for OXB as we continue to execute our multi-vector, multi-site ‘One OXB’ strategy. “The integration of our global network of sites is progressing well, delivering operational benefits that enhance our ability to meetdiverse client needs and accelerate project timelines. We’ve experienced strong demand across our viral vector services, with particularly robust revenue growth in lentiviral vector manufacturing. Importantly, we’re also seeing encouraging progress in AAV,including the signing of several new early stage programmes in the US. “Our commercial momentum is strong across all our key regions – the UK, US and France. We’re particularly pleased with the growth in our late-stage programmes, now supporting late stage activities for four clients preparing for commercial launch of CAR-T products. “The positive trajectory of our key performance indicators, including our growing revenue backlog and the high level of GMP suite reservations for 2025, gives us confidence in our future performance. These metrics reflect the increasing maturity ofour client programmes and the growing demand for our services in the cell and gene therapy sector. “As we look ahead, we remain focused on further integrating our operations and growing our global portfolio of clients and projects across all stages of clinical development. I’m proud of the OXB team whose expertise and dedication are driving our achievements, enabling our clients to deliver life-changing therapies to patients and create long-term value for our shareholders.” FINANCIAL HIGHLIGHTS (including post-period events) Double-digit revenue growth; total revenues increased by 18% to £50.8 million (H1 2023: £43.1 million). Organic revenue growth was 38%. Organic growth excludes the impact of the acquisition of OXB France and the loss of revenues from Homology Medicines, Inc (“Homology”). Revenue growth was driven by higher levels of manufacturing and commercial development activity, including: New client acquisition and revenue growth in lentiviral vector manufacturing as a result of an increase in the number ofbatches manufactured and clients transitioning to Process C, OXB’s best-in-class perfusion bioreactor process for lentiviral vector manufacturing. New contributions from OXB France following the acquisition of ABL Europe in January 2024, total revenues in France of £5.7 million in H1 2024. Offset by a decline in US revenues due to Homology ceasing clinical activities, revenues from Homology in H1 2024 were £0.2 million (H1 2023: £12.9 million). Lower cost base as a result of the 2023 reorganisation: Operating EBITDA loss of £(20.3) million (H1 2023: £(33.7 million) and operating loss of £(32.2) million (H1 2023: £(50.7) million). Sufficient capital to achieve current strategic plan: Cash at 30 June 2024 was £81.4 million (31 Dec 2023: £103.7 million); Net cash was £41.7 million (31 Dec 2023: £65.2 million). Commercial KPIs underpin expected momentum for the second half of 2024 and beyond: The contracted value of client orders1 signed during the first 8 months of 2024 was approximately £94 million as at 31 August 2024. Revenue backlog2as at 31 August 2024 stood at approximately £120 million, compared to £94 million at 31 December 2023. This is the amount of future revenue available to earn from current orders. OUTLOOK AND FINANCIAL GUIDANCE The Group reiterates its existing near-term and medium-term financial guidance communicated to the market: 2024 total Group revenues of between £126 million and £134 million, with a three-year revenue CAGR of more than 35% for 2023-2026. Low double-digit Operating EBITDA loss in 2024, including the impact of the acquisition of OXB France and investment in talent to support increased late stage client activity in 2025. The Group expects to achieve Operating EBITDA margins in excess of 20% by the end of 2026, and to be profitable on an EBITDA level in 2025. 1 Contracted value of client orders represent the value of customer orders for which the customer has signed a financial commitment, whereby any changes to agreed values will be subject to either change orders or cancellation fees. 2 Revenue backlog represents ordered CDMO revenues available to earn. It is calculated on a cumulative basis by adding new contracted client orders less the value of revenues already recognised or no longer available after project scope adjustments or cancellations. ANALYST BRIEFING OXB’s management team, led by Dr. Frank Mathias, CEO, Dr. Lucinda Crabtree, CFO and Dr. Sebastien Ribault, CBO will behosting a briefing and Q&A session for analysts at 13:00 BST / 8:00 EST today, 23 September, at Chartered Accountants Hall, One Moorgate Place, London EC2R 6EA, United Kingdom. A live webcast of the presentation will be available via this link. The presentation will be available on OXB’s website at www.oxb.com If you would like to dial in to the call and ask a question during the live Q&A, please email OXB@icrhealthcare.com Read the OXFORD BIOMEDICA PLC interim results for the six months ended 30th June 2024: Download PDF here NOTES Unless otherwise defined, terms used in this announcement shall have the same meaning as those used in the Annual report and accounts. ENQUIRIES Oxford Biomedica plc T: +44 (0)1865 509 737/ E: ir@oxb.com Sophia Bolhassan, Head of Investor Relations ICR Consilium T: +44 (0)20 3709 5700 / E: OXB@icrhealthcare.com Mary-Jane Elliott Angela Gray Davide Salvi RBC Capital Markets (Joint Corporate Brokers): T: +44 (0)20 7653 4000 Rupert Walford Kathryn Deegan JP Morgan (Joint Corporate Brokers): T: +44 (0)207 1347329 James Mitford Manita Shinh Jem de los Santos ABOUT OXB OXB (LSE: OXB) is a quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, OXB has more than 25 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. OXB collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus and other viral vector types. OXB’s world-class capabilities span from early stage development tocommercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. OXB offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the Tetravecta™ system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.
Oxford Biomedica rebrands as OXB reinforcing transformation into leading global cell and gene therapy CDMO
Oxford Biomedica is rebranding as OXB, unveiling a more modern and recognisable visual identity that reinforces its transformation into a global pure-play cell and gene therapy CDMO. https://oxb.com/wp-content/uploads/2024/09/OXB-Logo-Animation-New-Colour-With-Branding-Context.mp4 The new identity reflects OXB’s unique combination of technical excellence, innovation and unwavering commitment to deliver consistent high quality at every stage of viral vector development and manufacturing. The new branding represents the agile execution and creativity that enable OXB to deliver on clients’ goals, while also conveying accountability, professionalism and teamwork – core values that underpin OXB’s mission. Dr. Frank Mathias, Chief Executive Officer of OXB, commented: “The launch of our new brand identity reinforces OXB’s significant transformation into a leading pure-play cell and gene therapy CDMO. This rebranding is more than just a new look – it reflects the global nature of our operations and our deep commitment to the success of our clients’ drug development programmes. As OXB, with our new capabilities and global footprint, we are ideally positioned to communicate our end-to-end services to current and potential clients, and to interact with them from early-stage development through to commercial manufacturing.” Enquiries OXB: Sebastien Ribault, Chief Commercial Officer – T: +44 (0) 1865 783 000 / E: partnering@oxb.com ICR Consilium: T: +44 (0)20 3709 5700 / E: oxb@icrhealthcare.com Mary-Jane Elliott / Angela Gray / Davide Salvi About OXB OXB (LSE: OXB) is a quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, OXB has more than 25 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. OXB collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus, and other viral vector types. OXB’s world-class capabilities span from early-stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. OXB offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the Tetravecta™ system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France, and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube
Lucinda Crabtree joins Oxford Biomedica as Chief Financial Officer today
Oxford, UK – 2 September 2024: Oxford Biomedica plc (LSE:Oxford Biomedica) (“Oxford Biomedica”, “Oxford Biomedica” or “the Company”), a quality and innovation-led cell and gene therapy CDMO, announces that Lucinda (Lucy) Crabtree Ph.D. has today joined Oxford Biomedica as Chief Financial Officer (CFO) and board member. Lucinda’s appointment was previously announced on 17 July 2024. Lucinda Crabtree was previously at MorphoSys AG where she served as CFO, leading a finance team across the US and Germany until the company’s acquisition by Novartis. Previously, she was CFO at Autolus Therapeutics, a Nasdaq listed clinical stage biopharmaceutical company. Lucinda also brings extensive experience from the investment and banking sectors, having held roles at institutions including Woodford Investment Management, Goldman Sachs, and Jefferies. Dr. Frank Mathias, Chief Executive Officer of Oxford Biomedica, commented: “We are thrilled that Lucy has joined Oxford Biomedica as our new CFO and Board member today. Lucy brings a wealth of experience from her roles as a CFO and time as a healthcare investor and equity research analyst. Her experience will be invaluable as we grow our international position as a leading cell and gene therapy CDMO.” Lucinda Crabtree, Chief Financial Officer of Oxford Biomedica said: “I am excited to be joining Oxford Biomedica as CFO today. I firmly believe in the Company’s growth strategy and am looking forward to working with the Board and the rest of the leadership team. Together, I’m confident we will fulfil our mission of enabling our growing client base to deliver life-changing therapies to patients.” -Ends- Enquiries: Oxford Biomedica plc: Sophia Bolhassan, Head of Investor Relations – T: +44 (0) 1865 509 737 / E: ir@oxb.com ICR Consilium: T: +44 (0)20 3709 5700 / E: oxfordbiomedica@icrhealthcare.com Mary-Jane Elliott / Angela Gray / Davide Salvi About Oxford Biomedica Oxford Biomedica (LSE: Oxford Biomedica) is a quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, Oxford Biomedica has more than 25 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. Oxford Biomedica collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus, and other viral vector types. Oxford Biomedica’s world-class capabilities span from early-stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. Oxford Biomedica offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the TetravectaTM system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. Oxford Biomedica, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France, and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.
Oxford Biomedica to host a free webinar showcasing its AAV expertise
Oxford, UK – 27 August 2024: On Wednesday 11 September 2024, Oxford Biomedica, a quality and innovation-led cell and gene therapy CDMO, will host a free 60-minute webinar on its adeno-associated virus (AAV) development expertise and showcase their recent breakthroughs. The webinar titled “Advanced AAV Processing and Potency through Characterisation of Capsid and Payload Heterogeneity” will feature presentations by: Sarah Laughlin-Toth, PhD, Senior Scientist, Analytical Development at Oxford Biomedica Thomas Thiers, Downstream Scientist, Purification Sciences at Oxford Biomedica Alex Meola, Associate Director, AAV Downstream Process Development at Oxford Biomedica The speakers will discuss how advanced characterisation of AAV capsids, including their contents and surface properties, provides crucial insights into factors affecting product quality and potency. They will explore the impacts of capsid modifications such as VP1 deamidation, production conditions including bioreactor time and AAV localisation, and capsid heterogeneity on AAV products. This knowledge is vital for enhancing the development and manufacturing of AAV-based therapies, with potential implications for improving product efficacy and patient safety. The webinar will be held at 16:00 BST / 11:00 EDT / 17:00 CET on Wednesday 11 September 2024, followed by a live Q&A session. To register for the webinar, please click here. Enquiries: Oxford Biomedica plc: Sebastien Ribault, Chief Commercial Officer – T: +44 (0) 1865 509 737 / E: partnering@oxb.com ICR Consilium: T: +44 (0)20 3709 5700 / E: oxfordbiomedica@icrhealthcare.com Mary-Jane Elliott / Angela Gray / Davide Salvi About Oxford Biomedica Oxford Biomedica (LSE: Oxford Biomedica) is a quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, Oxford Biomedica has more than 25 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. Oxford Biomedica collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus, and other viral vector types. Oxford Biomedica’s world-class capabilities span from early-stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. Oxford Biomedica offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the TetravectaTM system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. Oxford Biomedica, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France, and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.
Half year trading update and notice of interim results
Oxford, UK – 8 August 2024: Full year 2024 revenue and medium-term financial guidance reiterated; underpinned by Oxford Biomedica’s growing market share in the expanding cell and gene therapy market Contracted value of client orders in the first seven months of the year reflective of strong demand for CDMO services at approximately £80 million Revenue backlog stood at approximately £113 million at 31 July 2024; high level of GMP suite reservation for 2025 gives increased visibility and underpins confidence in forecasts With increasing demand for services, Oxford Biomedica to invest in talent to support future growth, therefore low double-digit Operating EBITDA loss expected in 2024; 2025 EBITDA profitability outlook maintained due to continued cost discipline and a measured approach to operational spend Oxford, UK – 8 August 2024: Oxford Biomedica plc (LSE:Oxford Biomedica) (“Oxford Biomedica”, “Oxford Biomedica” or “the Company”), a quality and innovation-led cell and gene therapy CDMO, today provides a trading update for the first half of 2024. Additionally, the Company announces that it will report its Interim Results for the six months ended 30 June 2024 on Monday 23 September 2024. Strong trading for H1 2024 and reconfirmed financial guidance Oxford Biomedica has continued to see strong momentum in 2024 with revenues for the first half expected to be approximately £50 million. As previously communicated, revenues are expected to be second-half weighted, with contracted client orders providing a high degree of visibility. The Company reiterates revenue guidance for the full year within the £126 million to £134 million range. The first half of 2024 is expected to result in a negative Operating EBITDA with a positive Operating EBITDA expected in the second half, due to the effectiveness of the Company’s strategic initiatives, including streamlining of operations and expected strong revenue growth in the second half. With an increase in late-stage client activity expected in 2025, Oxford Biomedica will invest in building its technical and operational workforce to support this demand. With this investment in talent to support revenue growth, the Company expects a low double-digit Operating EBITDA loss for the full year 2024. As communicated at the full year results, 2024 Operating EBITDA includes a mid to high single digit loss from the recently acquired ABL Europe business (renamed “Oxford Biomedica (France)”), which was fully funded by cash received from Institut Mérieux prior to completion of the acquisition. Oxford Biomedica reiterates its medium-term financial guidance of a three-year revenue CAGR in excess of 35% for 2023-2026, to be profitable on an Operating EBITDA level in 2025, with Operating EBITDA margins in excess of 20% by the end of 2026. Oxford Biomedica’s cash position remains strong with £81 million cash as of 30 June 2024. This includes the proceeds from a EUR 20 million (£16.9 million) investment by TSGH SAS, a subsidiary of Institut Mérieux SA, following the acquisition of Oxford Biomedica (France). Strong demand for CDMO services Demand for Oxford Biomedica’s CDMO services has remained strong across all key viral vector types. The contracted value of client orders signed during 2024 was approximately £80 million as at 31 July 2024, in line with the Company’s expectations. Based on current business development activities and Oxford Biomedica’s growing market share, the cadence of signing orders is expected to increase in the second half of the year. Revenue backlog[1] (including France) stood at approximately £113 million at 31 July 2024, compared to £104 million at 31 March 2024. GMP suite reservation for 2025 has been high, further bolstering confidence in future revenue delivery. Clients transitioning from early stage manufacturing to late stage and commercial activities have moved from a batch reservation model to a binding forecast model, providing increased revenue visibility. Oxford Biomedica has made significant progress with its new commercial, multi-site, multi-vector strategy. The Company has successfully transferred its lentiviral vector capabilities to its Bedford, Massachusetts site and commenced its first lentiviral vector programme in the US. Plans are underway to enable the Company’s French sites to provide similar lentiviral vector services by the end of 2024. Dr. Frank Mathias, Chief Executive Officer of Oxford Biomedica, commented: “Oxford Biomedica has seen continued strong momentum in 2024, reinforcing our position as a world-leading cell and gene therapy CDMO. Our multi-site, multi-vector strategy is gaining traction, demonstrated by our strong revenue backlog and growing order book. These strong KPIs and high GMP suite reservation for 2025 provide us with confidence in our growth trajectory and our ability to capitalise on the growing opportunities in the cell and gene therapy market.” Notice of Interim Results Oxford Biomedica expects to report its Interim Results for the six months ended 30 June 2024 on Monday 23 September 2024. A briefing for investors and analysts will take place at 13:00 BST / 08:00 ET at One Moorgate Place, London, EC2R 6EA. [1] Revenue backlog represents ordered CDMO revenues available to earn. The value of customer orders included in revenue backlog only includes the value of work for which the customer has signed a financial commitment for Oxford Biomedica to undertake, whereby any changes to agreed values will be subject to either change orders or cancellation fees. Enquiries: Oxford Biomedica plc: Sophia Bolhassan, Head of Investor Relations – T: +44 (0) 1865 509 737 / E: ir@oxb.com ICR Consilium: T: +44 (0)20 3709 5700 / E: oxfordbiomedica@icrhealthcare.com Mary-Jane Elliott / Angela Gray / Davide Salvi About Oxford Biomedica Oxford Biomedica (LSE: Oxford Biomedica) is a quality and innovation-led contract development and manufacturing organisation (CDMO) in cell and gene therapy with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, Oxford Biomedica has more than 25 years of experience in viral vectors; the driving force behind the majority of cell and gene therapies. Oxford Biomedica collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenovirus, and other viral vector types. Oxford Biomedica’s world-class capabilities span from early-stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise. Oxford Biomedica offers a vast number of unique technologies for viral vector manufacturing, including a 4th generation lentiviral vector system (the TetravectaTM system), dual plasmid system for AAV production, suspension and perfusion process using process enhancers and stable producer and packaging cell lines. Oxford Biomedica, a FTSE4Good constituent, is headquartered in Oxford, UK. It has bioprocessing and manufacturing facilities across Oxfordshire, UK, Lyon and Strasbourg, France, and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.