Oxford Biomedica PLC Class 2 Transaction Announcement (8139B)
03 Febbraio 2020 - 6:04PM
UK Regulatory
TIDMOXB
RNS Number : 8139B
Oxford Biomedica PLC
03 February 2020
Class 2 Transaction Announcement
Oxford, UK - 03 February 2020: Oxford Biomedica plc (LSE:OXB)
("Oxford Biomedica" or "the Group"), a leading gene and cell
therapy group, announces today that it has sold in the market a
total of 635,000 American Depositary Shares ("ADS") in Orchard
Therapeutics plc ("Orchard") realising gross cash proceeds of
US$8.4 million.
As detailed in note 8 of the Group's interim results issued on 4
September 2019 the Group held the Orchard ADS on its balance sheet
as an available-for-sale asset with an aggregate fair value of
GBP9.6 million. The further 254,872 ADS that the Group continues to
own had a balance sheet value as at the 30(th) June 2019 of GBP2.8
million and continue to be held as an available-for-sale asset.
The Group is currently retaining the proceeds from the sale of
these Orchard ADS on deposit to fund potential future growth
opportunities.
In 2016 Oxford Biomedica first received equity in Orchard in
consideration for licences granted under a strategic alliance and
further equity was received in 2018 upon the achievement of certain
milestones. Orchard is a gene therapy company dedicated to
transforming the lives of patients with serious and
life-threatening rare diseases and floated on NASDAQ in November
2018. Oxford Biomedica's strategic alliance remains unchanged with
Orchard for the development of gene therapies.
This announcement is made in accordance with the Group's
disclosure obligations pursuant to Chapter 10 of the Listing
Rules.
-Ends-
Enquiries:
Oxford Biomedica plc T: +44 (0)1865 783 000
John Dawson, Chief Executive Officer T: +44 (0)1865 783 000
Stuart Paynter, Chief Financial Officer T: +44 (0)1865 954 161 / E: ir@oxb.com
Catherine Isted, Head of Corporate
Development & IR
T: +44 (0)20 3709 5700
Consilium Strategic Communications
Mary-Jane Elliott/Matthew Neal
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, ophthalmology, CNS disorders, liver diseases and
respiratory disease. The Group has also entered into a number of
partnerships, including with Novartis, Sanofi, Axovant Gene
Therapies, Orchard Therapeutics, Santen, Boehringer Ingelheim, the
UK Cystic Fibrosis Gene Therapy Consortium and Imperial
Innovations, 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 480 people. Further information is available at
www.oxb.com
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 or visit www.rns.com.
END
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