Oxford Biomedica PLC OXB Interim Management Statement

  Oxford Biomedica PLC (OXB) - Interim Management Statement

RNS Number : 0510R
Oxford Biomedica PLC
14 November 2012






Oxford BioMedica Interim Management Statement



Oxford, UK - 14 November 2012: Oxford BioMedica ("Oxford BioMedica" or "the
Company") (LSE: OXB), the leading gene-based biopharmaceutical company, today
publishes its interim management statement for the period from 1 July to 13
November 2012.



OPERATIONAL HIGHLIGHTS

LentiVector^® platform

Ocular programmes(gene-based therapies targeting vision loss): partnered with
Sanofi

· RetinoStat^® and StarGen™ clinical studies received positive review by
Data Safety Monitoring Board

· Second RetinoStat^® clinical site initiated at the Oregon Health and
Science University, Portland (USA)

· Final RetinoStat^® patient cohort recruiting across two clinical sites
(n=9, confirmatory dose level)

· UshStat^® clinical study received funding award of US$125,000 from the
Foundation Fighting Blindness



Manufacturing, alliances and intellectual property (IP): continued commercial
focus

· Successful launch of a new online portal - OXB Solutions - to showcase
leading viral vector GMP manufacturing competences: www.oxbsolutions.co.uk

· New collaboration with Immune Design Corp. to leverage expertise in
lentiviral vector clinical development

· Leading IP position strengthened by key US patent relating to the
delivery of RNAi using lentiviral vectors



5T4 tumour antigen platform

TroVax^® (therapeutic cancer vaccine): investigator-led Phase II programme
underway

· First patient treated in Phase II study for TroVax^® in colorectal
cancer led by Cardiff University, Wales (UK)

· Initial data trends from US Phase II trial in hormone refractory
prostate cancer (HRPC) indicate that the Company's pre-treatment biomarker can
identify patients most likely to benefit from treatment with TroVax^®

· Strategic decision to close the US Phase II HRPC trial and focus on
collaborative Phase II studies



Targeted antibody therapy for cancer: partnered with Pfizer

· Further presentations of the 5T4 antibody drug conjugate (ADC)
programme at key industry conferences:

̶ Antibody-Drug Conjugates, Bispecifics & Empowered Antibodies Summit in
August 2012

̶ The International Society for the Study of Xenobiotics in October 2012



FINANCIAL REVIEW

The Company's net cash1 balance at 30 June 2012, as stated in the interim
report, was £6.6 million (unaudited). The cash position has since been
strengthened by £10.1 million net proceeds from a fundraising which completed
in July 2012, in addition to a total £1.9 million option exercise payment from
Sanofi for StarGen™ and UshStat®. At 31 October 2012, the Company had a net
cash1 balance of £14.4 million (unaudited).



1. Cash, cash equivalents and available for sale investments



OUTLOOK

Oxford BioMedica remains focused on delivering the objectives set across its
core ophthalmology portfolio, further developing its manufacturing
capabilities and securing new industry alliances for its high-value products
and intellectual property.



John Dawson, Chief Executive Officer of Oxford BioMedica, said:"The
commercial prospects for our pioneering technologies continue to improve. Our
priority remains to secure a strong future for the Company and, as we continue
to deliver operational progress, we are increasingly well-placed to build a
financially self-sustaining business via organic growth, new alliances and
strategic corporate activity."



                                    -Ends-

                                      

For further information, please contact:
Oxford BioMedica plc:                       Tel: +44 (0)1865 783 000

Lara Mott, Head of Corporate Communications
                                           

Media Enquiries:                            Tel: +44 (0)20 7920 2360

Mary Clark/Sarah Macleod/Claire Dickinson

M:Communications



Notes to editors



1. Oxford BioMedica^®

Oxford BioMedica plc (LSE: OXB) is a biopharmaceutical company developing
innovative gene-based medicines and therapeutic vaccines that aim to improve
the lives of patients with high unmet medical needs. The Company's technology
platform includes a highly efficient LentiVector^® gene delivery system, which
has specific advantages for targeting diseases of the central nervous system
and the eye; and a unique tumour antigen (5T4), which is an ideal target for
anti-cancer therapy. Through in-house and collaborative research, Oxford
BioMedica has a broad pipeline with current partners and licensees including
Sanofi, Pfizer, GlaxoSmithKline, MolMed, Sigma-Aldrich, Biogen Idec, Emergent
BioSolutions, ImaginAb and Immune Design Corp. Further information is
available at www.oxfordbiomedica.co.uk and www.oxbsolutions.co.uk.

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


IMSGGGQCGUPPGRW -0- Nov/14/2012 07:00 GMT
 
Press spacebar to pause and continue. Press esc to stop.