REG - Oxford Biomedica PLC - Completion of Transaction

Oxford BioMedicaAnnouncement

10/03/2022 17:45

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RNS Number : 4164E  Oxford Biomedica PLC  10 March 2022

 

 

Completion of Transaction

Oxford, UK - 10 March 2022: Oxford Biomedica plc (LSE:OXB) ("Oxford
Biomedica" or "the Company"), a leading gene and cell therapy group, is
pleased to announce that it has today completed the acquisition of an 80 per
cent. ownership interest in a newly formed AAV focused manufacturing and
innovation business, Oxford Biomedica Solutions, for an implied pre-money
enterprise value of approximately $175m.  This follows the Company entering
into an equity securities purchase agreement with Homology Medicines Inc. on
28 January 2022.

The Company has fully drawn down the $85m Short Term Loan Facility with
Oaktree which has been used to temporarily bridge fund the Acquisition and the
$50m cash injection into Oxford Biomedica Solutions.

Admission of the Conditional Placing Shares is expected to occur at 8.00 a.m.
on 11 March 2022 as has been previously announced.

Dr. Roch Doliveux, Chair and Interim CEO of Oxford Biomedica, commented: "We
are delighted to have closed this transaction today. Oxford Biomedica is
transforming into an innovative global viral vector leader that provides
solutions to cell and gene therapy biotech and biopharma companies for their
process development and manufacturing needs. Today also sees us form our first
US operating subsidiary, located close to customers, talent, innovation in
academia and pools of capital, which will enhance our market leadership
position working across key viral vector types."

 

-Ends-

 

Enquiries:

 

Oxford Biomedica plc:
                                    T: +44
(0)1865 783 000 / E: ir@oxb.com

 

Stuart Paynter, Chief Financial Officer

Sophia Bolhassan, Head of Investor Relations

 

 

Evercore (Financial Adviser):
                          T: +44 (0)20 7653 6000

 

Simon Elliott

Julian Oakley

 

 

Peel Hunt (Sponsor and Joint Bookrunner):     T: +44 (0)20 7418 8900

 

James Steel

Jock Maxwell Macdonald

Sohail Akbar

 

 

WG Partners (Joint Bookrunner):                      T:
+44 (0)20 3705 9330

 

David Wilson

Claes Spång

Satheesh Nadarajah

 

 

Consilium Strategic Communications:

 

Mary-Jane Elliott
 
T: +44 (0)7739 788 014

Matthew Neal
 
T: +44 (0)7720 088 468

 

 

About Oxford Biomedica

Oxford Biomedica (LSE:OXB) is a leading, fully integrated, gene and cell
therapy group. In January 2022, Oxford Biomedica announced that it was
broadening its leading viral vector offerings by incorporating Homology
Medicines' established AAV capabilities into a newly formed AAV Manufacturing
and Innovation Business in the US with Homology Medicines as a 20% owner. To
date, 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, CNS disorders and
liver diseases. The Group has also entered into a number of partnerships,
including with Novartis, Bristol Myers Squibb, Boehringer Ingelheim, Beam
Therapeutics, Arcellx, Cabaletta, Orchard Therapeutics and Santen, 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 740 people.
Further information is available at www.oxb.com (http://www.oxb.com) .

 

 

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