Subsidiary signs exclusive Asia licence

RNS Number : 4759F

Oxford BioDynamics PLC

18 May 2017

 

18 May 2017

Oxford BioDynamics Plc

("OBD" or the "Company" and, together with its subsidiaries, the "Group")

Oxford BioDynamics subsidiary signs exclusive Asia licence for EpiSwitch™

Royalty and significant potential milestone fees; further commercial validation of the EpiSwitch™ platform

Oxford BioDynamics Plc (AIM: OBD), a revenue-generating biotechnology company focused on the discovery and development of epigenetic biomarkers based on regulatory genome architecture, for use within the pharmaceutical and biotechnology industry, is pleased to announce that its subsidiary, Oxford BioDynamics Pte Limited, has signed an exclusive licence agreement (the "Licence") with Nova Satra Diagnostics Asia Limited ("NSDA"), to supply its proprietary products and reagents for the potential use in a non-invasive blood test to assist in the diagnosis of breast cancer, in complementation to current breast cancer screening procedures, across 13 territories in Asia. Specifically for Malaysia, Oxford BioDynamics has granted its consent for NSDA to grant an exclusive sub-licence to Genting Laboratory Services Sdn Bhd, a wholly owned subsidiary of Genting Berhad, to provide the proprietary breast cancer test.      

NSDA is a wholly owned subsidiary of Nova Satra Dx Pte Ltd., a Singaporean company that develops and commercialises blood-based diagnostic tests to provide the early detection of cancer. Nova Satra Dx. is an associate company of Genting Berhad, a Malaysian conglomerate.

Under the terms of the agreement, the Licence exclusively grants NSDA the right to use Oxford BioDynamics' proprietary products and reagents, provided through the Company's EpiSwitch™ technology platform, for breast cancer patients stratification. NSDA will be solely responsible for completing the regulatory approval process and commercialisation activities of the breast cancer test within 13 territories in Asia. In return, Oxford BioDynamics will receive an upfront licensing payment, royalties on sales of the test and fees on the achievement of certain material undisclosed milestones.

Christian Hoyer Millar, Chief Executive Officer of Oxford BioDynamics, said:

"Our proprietary EpiSwitch™ technology will be instrumental in the development of this novel blood-based test that will assist in the diagnosis of breast cancer in the Asian population. This latest EpiSwitch^TM licence agreement will generate royalty and milestone fees for the Company. This agreement further demonstrates the broad application potential of OBD's technology."

"We are very pleased to be collaborating with Nova Satra Diagnostics and look forward to developing our relationship with the team further."

Kane Black, Chief Executive Officer of Nova Satra Diagnostics Asia, commented:

"We are pleased to be working with Oxford BioDynamics in Asia on this test, the first of a suite of innovative tests we are developing for patients specifically in Asia. Breast cancer is the most prevalent cancer in females in Asia[1] and early detection is an important factor in improving treatment outcomes and survival rates."

Kong Han Tan, President and Chief Operating Officer of Genting Berhad, added:

"We are excited to be granted exclusive distribution rights in Malaysia for the breast cancer test using Oxford BioDynamics' proprietary EpiSwitch™ technology and we welcome the opportunity to work with  Oxford BioDynamics for the transfer of their technology to our labs in Malaysia to enable us deliver a non-invasive blood test to assist in the diagnosis of breast cancer."

-ENDS-

For further details contact:

Oxford BioDynamics Plc		[phone]
Christian Hoyer Millar, CEO
Katie Long, CFO
FTI Consulting		[phone]
Financial Public Relations Advisor
Julia Phillips
Brett Pollard
Natalie Garland-Collins
Stifel Nicolaus Europe Limited		[phone]
Nominated Advisor and Broker
David Arch
Jonathan Senior
Peter Lees
Ben Maddison

Notes for Editors

About Oxford BioDynamics Plc

Oxford BioDynamics Plc (AIM: OBD) ("Oxford BioDynamics") is a revenue‐generating biotechnology company focused on the discovery and development of novel epigenetic biomarkers for use within the pharmaceutical and biotechnology industry. 

The Company's award-winning, proprietary technology platform, EpiSwitch™, aims to accelerate the drug discovery and development process, improve the success rate of therapeutic product development and take advantage of the increasing importance of personalised medicine. 

In particular, EpiSwitch™ can reduce time to market, failure rates and the costs at every stage of drug discovery.  Additionally, the technology provides significant insights into disease mechanisms for drug discovery and product re‐positioning programmes, and enables the personalisation of therapeutics for patients in the context of challenging pricing environments where improved clinical outcomes are critical.

Oxford BioDynamics is headquartered in the UK, and listed on the London Stock Exchange's AIM under the ticker "OBD".  For more information please visit www.oxfordbiodynamics.com.

About Nova Satra Dx Pte Ltd.

Singapore based Nova Satra Dx Pte Ltd. is a Molecular Diagnostics company committed to improving lives through the research, development and commercialization of blood based diagnostic tests that provide the early highly accurate detection of cancer.  Widely recognized as the future of cancer diagnostics, Doctors are using molecular testing to diagnose and treat diseases more accurately and at an earlier stage than ever before.

The company is currently developing a pipeline of molecular diagnostic tests across a range of cancer indications. Our lead test, is a novel non-invasive diagnostic test for breast cancer.

For more information please visit: www.novasatra.com

Contact email: [e-mail]

---

[1] https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4069805/

 

END

 

 

MSCDMGMKVNFGNZM