Extension of Commercial Supply Agreement
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Oxford Biomedica Extends Commercial Supply Agreement by Five Years for Manufacture of Lentiviral Vectors
Oxford, UK - 19 December 2019: Oxford Biomedica plc (LSE:OXB) ("Oxford Biomedica" or "the Group"), a leading gene and cell therapy group, announced today that it has extended its commercial supply agreement with Novartis for the manufacture of lentiviral vectors for the Novartis CAR-T portfolio including five lentiviral vectors for CAR-T products. This builds on the existing three year commercial supply agreement signed by the parties in July 2017.
Under the terms of the Agreement, Oxford Biomedica will receive a minimum $75 million from Novartis over the next five years in manufacturing revenue with additional undisclosed process development fees. A mid single digit £m payment will also be paid in the medium term as a facility reservation fee with other terms such as royalties on net sales of resulting CAR-T products as previously agreed in 2014.
Oxford Biomedica will dedicate a manufacturing facility to Novartis within its new 7,800m2 commercial manufacturing centre OxBox, in Oxford, UK. Oxford Biomedica will also be responsible for ensuring that at least two of its GMP facilities are capable of commercial supply for Novartis' CAR-T progammes.
John Dawson, Chief Executive Officer of Oxford Biomedica, said: "This five year extension to our commercial supply agreement with Novartis for the LentiVector® platform is testament to the joint success achieved in this strategically important collaboration since 2013. This closely integrated collaboration with Novartis underlines the long-term committment both companies have made to manufacturing CAR-T therapies.
"This is also the first long-term commitment of a partner to reserve a dedicated GMP facility in our new OxBox GMP facility, which we expect to become operational in early 2020. While stable and long-term supply of lentiviral vectors for commercial CAR-T products is key to both companies, we are also pleased to announce that we are now working on five different lentiviral vectors for CAR-T products in the Novartis portfolio and we look forward to helping Novartis to innovate in this exciting therapeutic space".
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Enquiries: |
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Oxford Biomedica plc
John Dawson, Chief Executive Officer Stuart Paynter, Chief Financial Officer Catherine Isted, Head of Corporate Development & IR
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T: +44 (0)1865 783 000 T: +44 (0)1865 783 000 T: +44 (0)1865 954 161 / E: ir@oxb.com
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Consilium Strategic Communications
Mary-Jane Elliott/Matthew Neal |
T: +44 (0)20 3709 5700 |
About Oxford Biomedica
Oxford Biomedica (LSE:OXB) is a leading, fully integrated, gene and cell therapy group focused on developing life changing treatments for serious diseases. Oxford Biomedica and its subsidiaries (the "Group") have built a sector leading lentiviral vector delivery platform (LentiVector®), which the Group leverages to develop in vivo and ex vivo products both in-house and with partners. The Group has created a valuable proprietary portfolio of gene and cell therapy product candidates in the areas of oncology, ophthalmology, CNS disorders, liver diseases and respiratory disease. The Group has also entered into a number of partnerships, including with Novartis, Sanofi, Axovant Gene Therapies, Orchard Therapeutics, Santen, Boehringer Ingelheim, the UK Cystic Fibrosis Gene Therapy Consortium and Imperial Innovations, through which it has long-term economic interests in other potential gene and cell therapy products. Oxford Biomedica is based across several locations in Oxfordshire, UK and employs more than 480 people. Further information is available at www.oxb.com
About OxBox
OxBox is Oxford Biomedica's new 7,800 m2 commercial manufacturing centre, located in Oxford, UK. Phase I, which will be operational in 2020, is 4,200 m2 of developed area consisting of six GMP clean room suites - four for vector production and two for fill-finish, warehousing and cold chain facilities and support laboratories. Phase II will provide for flexible expansion for a further six GMP clean room suites. This world class facility is expected to more than double Oxford Biomedica's manufacturing capacity, supporting further growth in revenues.
The person who arranged for the release of this announcement on behalf of Oxford Biomedica plc was John Dawson, Chief Executive Officer.
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