REG - Oxford Biomedica PLC - Sale and leaseback of Windrush Court facility

Oxford BioMedicaAnnouncement

14/11/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221114:nRSN2223Ga&default-theme=true

RNS Number : 2223G  Oxford Biomedica PLC  14 November 2022

 

 

 

Oxford Biomedica to complete sale and leaseback of Windrush Court facility for
£60 million

Oxford, UK - 14 November 2022: Oxford Biomedica plc (LSE:OXB) ("Oxford
Biomedica" or "the Company"), a leading gene and cell therapy group, today
announces exchange of contracts for  the sale of its Windrush Court facility
(the "Property") to Kadans Science Partner ("Kadans") for £60 million.
Completion is due to occur on or around the 18(th) November 2022. The sale
proceeds of £60 million exceed the target offer figure of £55 million that
the Company previously announced it was seeking.  Further, as a result, the
Company's cash position is expected to further strengthen to more than £150
million. The current net book value of the Property is approximately £7.9
million.

 

In addition, Kadans have granted Oxford Biomedica an occupational lease of the
Property for 15 years at a rent of £3.5 million per annum rising to £4.7
million per annum after five years, with a market rent review at 10 years.

 

The Windrush Court facility is a c.75,000 sq ft building consisting of
state-of-the-art laboratories as well as extensive office space which the
Company have developed over the past 8 years. The facility houses the
Company's Analytical Services Group and Process Research & Development
functions.

 

 

Stuart Paynter, Chief Financial Officer of Oxford Biomedica, commented: "We
are pleased to have exchanged contracts for the sale and leaseback of our
state-of-the-art Windrush Court facility and look forward to building a
relationship with Kadans, the European leader in the development and
management of life sciences buildings and ecosystems. The proceeds of the
transaction will enhance our net cash position, providing us with additional
financial flexibility as we build our leadership as an innovation-led CDMO
across all viral vectors for cell and gene therapy."

 

James Sheppard, Managing Director (UK & Ireland) of Kadans, commented: "We
are delighted to secure this tremendously important asset in the Oxford
ecosystem. Oxford Biomedica is one of the world's leading companies in cell
and gene therapy, an area of deep specialism for Kadans, and we look forward
to building a relationship with the team."

 

-Ends-

Enquiries:

 

 

Oxford Biomedica plc:

 

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

Taylor Boyd, VP, Head of IR - T: +1 919 539 1234 / E: ir@oxb.com

Sophia Bolhassan, VP, Corporate Affairs and IR - T: +44 (0) 7394 562 425 / E:
ir@oxb.com

 

Consilium Strategic Communications:

T: +44 (0)20 3709 5700 / E: oxfordbiomedica@consilium-comms.com

 

Mary-Jane Elliott / Matthew Cole / Angela Gray

 

 

About Oxford Biomedica

 

Oxford Biomedica (LSE:OXB) is an innovative leading viral vector specialist
focused on delivering life changing therapies to patients.

 

Oxford Biomedica plc and its subsidiaries (the Group) work across key viral
vector delivery systems including those based on lentivirus, adeno-associated
virus (AAV) and adenovirus, providing innovative solutions to cell and gene
therapy biotechnology and biopharma companies for their process development,
analytical development and manufacturing needs. Oxford Biomedica has built a
sector leading lentiviral vector delivery system, LentiVector(®) platform,
and is working on programmes from pre-clinical to commercial stage across a
range of therapeutic areas with global partners.

 

Oxford Biomedica is based across several locations and headquartered in
Oxfordshire, UK. In 2022, the Group established Oxford Biomedica Solutions, a
US based subsidiary AAV manufacturing and innovation business, based near
Boston, US.

 

Further information is available at www.oxb.com (http://www.oxb.com) .

 

About Kadans Science Partner

 

Kadans Science Partner is the European leader investing in the development of
ecosystems and real estate with a dedicated focus on the knowledge intensive
sector. Kadans has invested across various specific areas, like agri-tech in
Wageningen, life sciences in Leiden, and cell & gene therapy in Stevenage,
UK. Kadans provides its tenants with an array of additional services tailored
to their specific needs. In December 2020, Kadans was acquired by AXA IM Alts,
which, as a long- term capital partner, has allowed us to significantly
accelerate our growth.

 

Kadans is currently present on 26 campuses, in 7 countries, where it operates
over 8 million sq ft of space for over 450 tenants, including start-ups,
scale-ups, corporates, government bodies and educational institutes. Kadans
has a solid view of the developments our tenants and partners are currently
working on and which parties in our network could benefit from connecting.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCVXLFFLFLFFBB