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Oxford Biomedica PLC (OXB)

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Tuesday 18 May, 2021

Oxford Biomedica PLC

Oxford Biomedica upgrades financial guidance

RNS Number : 9172Y
Oxford Biomedica PLC
18 May 2021
 

 

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 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018). 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 upgrades financial guidance for supply agreement with AstraZeneca for manufacture of COVID-19 Vaccine

 

 

Oxford, UK - 18 May, 2021: Oxford Biomedica plc (LSE:OXB) ("Oxford Biomedica" or "the Group"), a leading gene and cell therapy group, announced today an update on the 18 month supply agreement  signed with AstraZeneca UK Ltd ("AstraZeneca") in September 2020.

 

Following successful manufacture of large-scale batches of AstraZeneca's COVID-19 Vaccine, AstraZeneca has today committed to an increase in the number of batches required from Oxford Biomedica in the second half of 2021. As a result of this, the Group is raising revenue guidance for expected cumulative revenues from AstraZeneca by the end of 2021 from in excess of £50 million to in excess of £100 million, and as a result expects significant growth in Group Operating EBITDA in the year ending 2021.

 

As previously guided, Oxford Biomedica does not expect the commitment to AstraZeneca for vaccine production to have any impact on the Group's current partnerships or ability to secure and support additional new partnerships in the cell and gene therapy field.

 

 

Background to the agreement with AstraZeneca

Oxford Biomedica announced an 18 month supply agreement in September 2020 under a three year Master Supply and Development Agreement ("the Agreement") with AstraZeneca UK Ltd ("AstraZeneca") for large-scale commercial manufacture of the adenovirus vector-based COVID-19 vaccine, AZD1222. (see LINK). 

 

 

John Dawson, Chief Executive Officer of Oxford Biomedica, said: "Everyone involved with production of the COVID-19 Vaccine can be truly proud of their achievement in manufacturing batches of vaccine from our Oxbox manufacturing facility. We are delighted to be a key supplier of the vaccine and  the Group is proud to be part of this  world-leading vaccination project that is saving many lives."

 

 

 

 

 

 

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Enquiries:

 

Oxford Biomedica plc

 

John Dawson, Chief Executive Officer                             T: +44 (0)1865 783 000

Stuart Paynter, Chief Financial Officer                             T: +44 (0)1865 783 000

Catherine Isted, Head of Corporate Development & IR   T: +44 (0)1865 954 161 / E: [email protected]

 

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, cell and gene 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 and liver diseases. The Group has also entered into a number of partnerships, including with Novartis, Bristol Myers Squibb, Sio Gene Therapies, Orchard Therapeutics, Santen, Beam Therapeutics, 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. Additionally the group has signed a 3 year master supply and development agreement with AstraZeneca for large-scale manufacturing of the adenoviral based COVID-19 vaccine, AZD1222. Oxford Biomedica is based across several locations in Oxfordshire, UK and employs more than 670 people. Further information is available at www.oxb.com

 

 

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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