17 August 2017

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017

 

Oxford, UK – 17 August 2017: Oxford BioMedica plc (“OXB” or “the Group”; LSE: OXB), a leading gene and cell therapy group, today announces interim results for the six months ended 30 June 2017.

 

OPERATIONAL HIGHLIGHTS (including post period-end events)

  • Novartis partnership progressed well with the BLA for Novartis’ potential blockbuster product CTL019 granted priority review in paediatric and young adult patients with relapsed and refractory (r/r) B-cell acute lymphoblastic leukaemia; approval anticipated following unanimous vote at FDA advisory committee
  • Novartis received encouraging CTL019 Phase II results in r/r diffuse large B-cell lymphoma adding further major potential indication with breakthrough designation; filing anticipated in Q4 2017
  • Major new lentiviral vector supply agreement signed with Novartis for CTL019 and other undisclosed CART products; over $100 million revenue potential over three years including $10 million upfront payment
  • MHRA licence granted to the Group for commercial manufacture and supply of lentiviral vector
  • The Group’s priority in-house product development programmes continue to be prepared for clinical studies whilst discussions continue with potential partners
  • £2 million Innovate UK collaboration to further enhance LentiVector® platform suspension technology
  • Proprietary TRiP yield enhancement technology published in prestigious journal Nature Communications

 

FINANCIAL HIGHLIGHTS

  • Revenue increased by 26% to £15.7 million (H1 2016: £12.5 million)
  • Operating loss reduced to £2.2 million (H1 2016: £6.9 million)
  • Cash outflow before financing activities reduced to £2.2 million (H1 2016: £3.2 million)
  • Debt refinancing completed with significantly improved terms from $55 million Oaktree Capital Management facility
  • Cash at 30 June 2017 £10.2 million (31 December 2016: £15.3 million)
  • At 31 July 2017 the cash balance was £22.1 million following the receipt of $10 million upfront payment from Novartis and 2016 R&D tax credit

“Oxford BioMedica has made significant progress in the past six months, highlighted by the ongoing success of our collaboration with Novartis and their CTL019 product. The anticipated approval of the first lentiviral vector-based product, and imminent filing in a second major indication, validates our position as a world leader in the gene and cell therapy field. Our strengthened position has not only boosted our partnering discussions but also provides the Group with the financial flexibility to progress our key in-house programmes whilst continuing discussions with suitable collaborators. We are now ideally positioned and intend to build on our technological leadership that makes Oxford BioMedica a world leading gene and cell therapy business.”

John Dawson

Oxford BioMedica’s Chief Executive Officer

Conference call for analysts:

A briefing for analysts will be held at 9:30am BST on 17 August 2017 at 1 Cornhill, London EC3V 3ND. There will be a simultaneous live conference call with Q&A and the presentation will be available on the Group’s website at www.oxfordbiomedica.co.uk.

 

Please visit the website approximately 10 minutes before the conference call to download the presentation slides. Conference call details:

 

Participant dial-in: 08006940257
International dial-in: +44 (0) 1452 555566
Participant code: 59069153

 

An audio replay file will be made available shortly afterwards via the Group's website: www.oxfordbiomedica.co.uk

 

For further information, please contact:

Oxford BioMedica plc:                                                        Tel: +44 (0)1865 783 000

John Dawson, Chief Executive Officer

Tim Watts, Chief Financial Officer

 

Financial PR Enquiries:                                                         Tel: +44 (0)20 3709 5700

Mary-Jane Elliott/Matthew Neal/Philippa Gardner/Laura Thornton

Consilium Strategic Communications

 

Jefferies (Corporate Broker):                                                 Tel: +44 (0)20 7029 8000

Gil Bar-Nahum

Simon Hardy

Lee Morton

Max Jones

Nicholas Moore

 

 

***Please read the full release here***


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