Oxford Biomedica PLC Details of alliance with Orchard Therapeutics (0629D)
05 October 2018 - 4:00PM
UK Regulatory
TIDMOXB
RNS Number : 0629D
Oxford Biomedica PLC
05 October 2018
Oxford BioMedica announces additional details of its strategic
alliance with Orchard Therapeutics
London, UK - 5 October 2018: Oxford BioMedica plc ("Oxford
BioMedica" or "the Group") (LSE:OXB), a leading gene and cell
therapy group, today announces additional details of its strategic
alliance with Orchard Therapeutics, as disclosed in the public
filing by Orchard Therapeutics on a Form F-1 Registration Statement
ahead of a planned NASDAQ Initial Public Offering (IPO).
In November 2016, Oxford BioMedica entered into a strategic
alliance with Orchard Therapeutics for the development of gene
therapies for ADA-SCID, MPS-IIIA and certain other diseases
(Subsequent Indications).
In the agreement, Oxford BioMedica granted to Orchard
Therapeutics an exclusive, worldwide license for the research,
development and commercialisation of ex vivo gene therapy products
for the treatment of ADA-SCID, MPS-IIIA and Subsequent Indications.
Oxford BioMedica also granted Orchard Therapeutics a non-exclusive,
worldwide license for the treatment of certain diseases other than
ADA-SCID, MPS-IIIA and Subsequent Indications.
As consideration for the licenses granted under the agreement,
Oxford BioMedica was issued 735,000 ordinary shares in Orchard
Therapeutics. Additional shares were awarded to the Group on the
achievement of certain milestones, including 188,462 ordinary
shares in November 2017 and a further 188,462 ordinary shares in
August 2018. Additional ordinary shares will be issued to Oxford
BioMedica upon achievement of the remaining milestones. Oxford
BioMedica currently owns 1,111,924 shares in Orchard Therapeutics
(pre any share capital reorganisation which may be undertaken as
part of the IPO process).
Additionally, Oxford BioMedica will receive a low single-digit
royalty on net sales of licensed products until January 31, 2039.
In the event the products are used for compassionate use, these
royalties are reduced by a mid-double-digit percentage. Orchard
Therapeutics is also required to pay a set monthly fee to Oxford
BioMedica in the event the Group's system for generating stable
cell lines is used.
- Ends -
For further information, please contact:
Oxford BioMedica plc: Tel: +44 (0)1865
John Dawson, Chief Executive Officer 783 000
Stuart Paynter, Chief Financial Officer
Consilium Strategic Communications Tel: +44 (0)20
Mary-Jane Elliott/Matthew Neal/ 3709 5700
Olivia Manser/Laura Thornton
Notes for editors
About Oxford BioMedica
Oxford BioMedica (LSE:OXB) is a leading 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(R) ), 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 and CNS
disorders. The Group has also entered into a number of
partnerships, including with Novartis, Bioverativ, Sanofi, Axovant,
Orchard Therapeutics, Boehringer Ingelheim/UK Cystic Fibrosis Gene
Therapy Consortium/Imperial Innovations, GC LabCell 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
360 people. Further information is available at
www.oxfordbiomedica.co.uk.
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END
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