Major Commercial and Clinical Supply Agreement
Oxford BioMedica Announces a Major Supply Agreement
Oxford, UK - 6 July 2017: Oxford BioMedica plc (LSE:OXB) ("Oxford BioMedica" or "the Group"), a leading gene and cell therapy group, today announces that it has signed an agreement with Novartis for the commercial and clinical supply of lentiviral vectors used to generate CTL019 (tisagenlecleucel) and other undisclosed Chimeric Antigen Receptor T cell (CART) products. The agreement builds on the collaboration announced between the Group and Novartis in October 2014 and anticipates the commercial launch of CTL019 later this year.
Under the terms of the agreement which includes minimum offtake requirements, Oxford BioMedica could potentially receive in excess of $100 million from Novartis over the next three years. This amount includes a $10 million upfront payment, various performance incentives and bioprocessing and development services. The supply agreement is for three years, extendable to five years subject to the agreement of both parties.
In addition to this, and as previously announced in October 2014, Oxford BioMedica will also receive undisclosed royalties on potential future sales of Novartis's CAR-T products. On 30 March 2017, Novartis announced that the US Food and Drug Administration (FDA) had accepted its Biologics License Application (BLA) filing and granted priority review for CTL019.
Commenting on the announcement, John Dawson, Chief Executive Officer of Oxford BioMedica, said: "Today's news demonstrates the value of our LentiVector® platform and the quality of work we have delivered to Novartis over the last few years. The new deal with Novartis will strengthen the Group's balance sheet immediately and will support the Group's continued growth over the next three years. Oxford BioMedica is recognised as a world leader in the field of lentiviral vectors and we are delighted to be supporting Novartis and patients with commercial supply of the lentiviral vector used to generate CTL019."
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For further information, please contact: |
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Oxford BioMedica plc: John Dawson, Chief Executive Officer Tim Watts, Chief Financial Officer |
Tel: +44 (0)1865 783 000 |
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Financial and corporate communications enquiries: Consilium Strategic Communications Mary-Jane Elliott/Matthew Neal/Chris Welsh/Laura Thornton |
Tel: +44 (0)20 3709 5700 |
Jefferies (Corporate Broker): Tel: +44 (0)20 7029 8000
Gil Bar-Nahum
Simon Hardy
Lee Morton
Max Jones
Nicholas Moore
This announcement contains inside information
Notes to editors
About Oxford BioMedica®
Oxford BioMedica (LSE:OXB) is a leading gene and cell therapy company 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®) through which the Group develops 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 and CNS disorders. The Group has also entered into a number of partnerships, including with Novartis, Sanofi, GSK, and Immune Design, 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 250 people. Further information is available at www.oxfordbiomedica.co.uk.
This information is provided by RNS
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