TIDMOXB
RNS Number : 5767M
Oxford Biomedica PLC
22 September 2021
The information contained within this announcement is deemed by
the Group 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 announces strategic investment by Serum Life
Sciences Ltd
Oxford, UK - 22 September, 2021: Oxford Biomedica plc (LSE:OXB)
("Oxford Biomedica" or "the Group"), a leading gene and cell
therapy group, today announces that Serum Life Sciences Ltd
("SLS"), a subsidiary company of Serum Institute of India Pvt Ltd
("Serum Institute of India"), has agreed to invest just over GBP50
million in the Group in return for new ordinary shares representing
3.9% of the outstanding shares after the capital increase (the
"Transaction"). The subscription price per new ordinary share to be
paid by SLS is equal to the closing middle market price on Tuesday,
21 September 2021. For more information, see section "About the
Transaction" below.
The proceeds of the Transaction will be used to fund the
development of the fallow area at Oxbox, the Group's 84,000 sq. ft
manufacturing facility based in Oxford, UK, into a flexible
advanced manufacturing space and the validation of several
independent cGMP suites, expected to come online in mid-2023.
Oxbox was constructed by the Group during 2019 and the first
phase of development, totalling 45,000 sq. ft., consisted of four
GMP manufacturing suites, two fill and finish suites and supporting
areas such as warehouse, cold chain facilities and QC laboratories.
Three suites are currently dedicated to producing COVID-19 vaccine
at 1000L scale and one suite is producing lentiviral vector-based
products for the Group's other partners. The remaining 39,000 sq.
ft. will be developed using the proceeds of the Transaction to
allow for flexible expansion and use. This is expected to include
manufacturing capacity for viral vector-based products, including
vaccines.
The investment from SLS, a company which was set up to market
coronavirus disease vaccines manufactured by Serum Institute of
India, will allow Oxford Biomedica to continue to expand the
capacity of the Group's world class facilities in anticipation of
growing demand for the Group's world leading capabilities.
John Dawson, Chief Executive Officer of Oxford Biomedica, said:
"We are delighted that Serum Life Sciences Ltd, a subsidiary
company of Serum Institute of India, has made this strategic
investment into Oxford Biomedica. Serum Institute of India has
played a big part in the fight against COVID-19, as have we, and we
look forward to a strong and collaborative relationship. This
investment will allow us to expand capacity at Oxbox at a time when
our business development pipeline has never looked stronger, and in
addition, we expect this will create up to 120 new, highly skilled,
jobs. We look forward to maximising the many opportunities ahead,
and to continuing to achieve our mission of delivering lifesaving
therapies to patients, with the support and collaboration of Serum
Life Sciences Ltd."
Adar Poonawalla, Chief Executive Officer of Serum Institute of
India, added: "Serum Life Sciences is delighted to have a strategic
partnership with Oxford Biomedica, with the objective of building
long term capacity in the UK."
About the Transaction
Under the Subscription Agreement entered into by SLS and Oxford
Biomedica in relation to the Transaction, SLS has agreed to
subscribe for 3,382,950 new ordinary shares of 50 pence each in
Oxford Biomedica (the "Subscription Shares") at a price of GBP14.78
per share, amounting to an investment of GBP50,000,001 (gross).
The Subscription Shares are to be issued on a non pre-emptive
basis utilising the authority granted at the Group's 2021 AGM which
allows Oxford Biomedica to issue ordinary shares free of
pre-emption rights for the purposes of an acquisition or specified
capital investment . Applications will be made for the Subscription
Shares to be admitted to the premium listing segment of the
Official List of the Financial Conduct Authority and to be admitted
to trading on the main market for listed securities of the London
Stock Exchange plc (together, "Admission"). Admission of the
Subscription Shares and completion of the Transaction is expected
to take place at 8.00 a.m. on 27 September 2021.
-Ends-
Enquiries:
Oxford Biomedica plc: T: +44 (0)1865 783 000 / E: ir@oxb.com
John Dawson, Chief Executive Officer
Stuart Paynter, Chief Financial Officer
Catherine Isted, Head of Corporate Development & IR
Sophia Bolhassan, Director of IR
Consilium Strategic Communications: T: +44 (0)20 3709 5700
Mary-Jane Elliott / Matthew Neal
About Serum Life Sciences Ltd and Serum Institute of India PVT
Ltd
Serum Life Sciences Ltd is a subsidiary company of Serum
Institute of India Pvt Ltd. Its global sales office in London will
market COVID-19 vaccines manufactured by Serum Institute of India
Pvt Ltd ("SII").
SII is the world's largest vaccine manufacturer by number of
doses produced and sold globally (more than 1.5 billion doses),
supplying WHO accredited vaccines to as many as 170 countries. It
was founded in 1966 with the aim of manufacturing lifesaving
immunobiological drugs including vaccines worldwide. With a strong
commitment to global health, the institute's objective has been
proliferated by bringing down the prices of newer vaccines such as
such as Diphtheria, Tetanus, Pertussis, Hib, BCG, r-Hepatitis B,
Measles, Mumps and Rubella vaccines. SII is credited with bringing
world-class technology to India, through its state-of-the-art
equipped multifunctional production facility in Manjri, Pune and
its association with Zipline and government agencies to transform
emergency medicine and critical care along with spearheading the
race for vaccine development in the fight against the COVID-19
pandemic.
About Oxford Biomedica
Oxford Biomedica (LSE:OXB) is a leading, fully integrated, 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, 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 and Boehringer Ingelheim, 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
candidate, 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
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