Oxford Biomedica completes
acquisition of ABL Europe
· Strengthens Oxford
Biomedica's position as a global pure-play cell and gene therapy
CDMO with multi viral vector capabilities across multiple sites in
EU, US and UK
· Expands Oxford
Biomedica's ability to serve more
clients, unlocking development capacity and increasing
revenues
· 3.2
per cent of the Company's share capital issued to
Institut Mérieux
at a share price of
407.4p
Oxford, UK - 29 January 2024: Oxford Biomedica plc (LSE:OXB) ("Oxford Biomedica" or "the
Company"), a quality and innovation-led cell and gene therapy CDMO,
today announces that, following the announcements on
20 September and
4 December 2023, it has today
completed the acquisition of ABL Europe SAS ("ABL Europe") from
Institut Mérieux SA ("Institut Mérieux").
The acquisition of ABL Europe, a
pure-play European CDMO, strengthens Oxford Biomedica's position as
a world-leading cell and gene therapy CDMO. This strategic move
broadens the Company's international development, manufacturing and
testing presence, services and capacity by establishing a strong
footprint within the European Union with facilities
in Lyon and Strasbourg, France. In addition, the
acquisition increases Oxford Biomedica's capacity in process and
analytical development and early-stage
manufacturing across Adenovirus, Lentiviral vectors, AAVs and with
this acquisition, MVA and Vaccinia.
Pursuant to the transaction terms,
as previously disclosed, ABL Europe has been acquired for a
consideration of €15million, (including the value of €10million of
pre-completion cash funding from Institut Mérieux in ABL Europe) in
exchange for 3,149,374 new ordinary shares in the Company
(representing 3.2 per cent of the Company's enlarged issued share
capital) which have been issued at a price of 407.4p. The shares
have this morning been admitted to the
premium listing segment of the Official List of the Financial
Conduct Authority and to trading on the main market for listed
securities of London Stock Exchange plc.
In accordance with the terms of the
transaction, Institut Mérieux intends to become a major shareholder
in Oxford Biomedica and prior to today's completion of the
acquisition of ABL Europe had already built a stake of 3.3 per cent
of the Company's then issued share capital through purchases in the
open market, with the intention of owning approximately 10.0
percent of the Company's ordinary shares by the end of Q3
2024.
The Company confirms that there is
no material change to the 2023 financial guidance provided at the
Interim Results in September previously reaffirmed in the Business
Update on
7 December 2023. The Company will in due course issue medium term financial
guidance to include the impact of the acquisition.
Dr.
Frank Mathias, Chief Executive Officer of Oxford Biomedica,
commented: "Welcoming ABL
Europe into
the OXB family
is an important step to unlock our ability to serve more clients
with existing and new technologies, expanding development capacity,
and further broadening our geographical presence. We are also
delighted to have Institut Mérieux as a long-term
shareholder as we
continue to
solidify our position as a world leading pure-play quality and
innovation-led global cell and gene therapy
CDMO."
Michel Baguenault, Chief Executive Officer of Institut
Mérieux, said: "Institut Mérieux is
delighted that ABL Europe is becoming part of OXB, a world leading
cell and gene therapy CDMO. Our investment reflects our confidence
in OXB's potential to ensure ABL's long-term
development. This transaction opens up
exciting growth opportunities for ABL Europe, that will
significantly expand their offering to biopharma and biotech
companies, and ultimately help more patients."
-Ends-
Enquiries:
Oxford Biomedica
plc:
Sophia Bolhassan, VP, Corporate Affairs and IR - T:
+44 (0) 7394 562 425 / E: ir@oxb.com
ICR
Consilium:
T: +44 (0)20 3709 5700 / E:
oxfordbiomedica@consilium-comms.com
Mary-Jane Elliott / Matthew Neal / Davide Salvi
About Oxford Biomedica
Oxford Biomedica (LSE: OXB) is a
quality and innovation-led cell and gene therapy CDMO with a
mission to enable its clients to deliver life changing therapies to
patients around the world.
One of the original pioneers in cell
and gene therapy, the Company has more than 25 years of experience
in viral vectors; the driving force behind the majority of gene
therapies. The Company collaborates with some of the world's most
innovative pharmaceutical and biotechnology companies, providing
viral vector development and manufacturing expertise in lentivirus,
adeno-associated virus (AAV), adenoviral vectors, and other viral
vector types. Oxford Biomedica's world-class capabilities span from
early-stage development to commercialisation. These capabilities
are supported by robust quality-assurance systems, analytical
methods and depth of regulatory expertise.
Oxford Biomedica, a FTSE4Good
constituent, is headquartered in Oxford, UK. It has locations across Oxfordshire, UK, Lyon and Strasbourg,
France, and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn
and YouTube.