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 £50 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
£14.78 per share, amounting to an investment of £50,000,001
(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 OfficerStuart Paynter, Chief
Financial OfficerCatherine Isted, Head of Corporate Development
& IRSophia 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®), 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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