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Oxford Biomedica upgrades financial guidance for supply agreement with AstraZeneca for manufacture of COVID-19 Vaccine
Oxford, UK - 18 May, 2021: Oxford Biomedica plc (LSE:OXB) ("Oxford Biomedica" or "the Group"), a leading gene and cell therapy group, announced today an update on the 18 month supply agreement signed with AstraZeneca UK Ltd ("AstraZeneca") in September 2020.
Following successful manufacture of large-scale batches of AstraZeneca's COVID-19 Vaccine, AstraZeneca has today committed to an increase in the number of batches required from Oxford Biomedica in the second half of 2021. As a result of this, the Group is raising revenue guidance for expected cumulative revenues from AstraZeneca by the end of 2021 from in excess of £50 million to in excess of £100 million, and as a result expects significant growth in Group Operating EBITDA in the year ending 2021.
As previously guided, Oxford Biomedica does not expect the commitment to AstraZeneca for vaccine production to have any impact on the Group's current partnerships or ability to secure and support additional new partnerships in the cell and gene therapy field.
Background to the agreement with AstraZeneca
Oxford Biomedica announced an 18 month supply agreement in September 2020 under a three year Master Supply and Development Agreement ("the Agreement") with AstraZeneca UK Ltd ("AstraZeneca") for large-scale commercial manufacture of the adenovirus vector-based COVID-19 vaccine, AZD1222. (see LINK).
John Dawson, Chief Executive Officer of Oxford Biomedica, said: "Everyone involved with production of the COVID-19 Vaccine can be truly proud of their achievement in manufacturing batches of vaccine from our Oxbox manufacturing facility. We are delighted to be a key supplier of the vaccine and the Group is proud to be part of this world-leading vaccination project that is saving many lives."
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Enquiries:
Oxford Biomedica plc
John Dawson, Chief Executive Officer T: +44 (0)1865 783 000
Stuart Paynter, Chief Financial Officer T: +44 (0)1865 783 000
Catherine Isted, Head of Corporate Development & IR T: +44 (0)1865 954 161 / E: ir@oxb.com
Consilium Strategic Communications
Mary-Jane Elliott / Matthew Neal T: +44 (0)20 3709 5700
About Oxford Biomedica
Oxford Biomedica (LSE:OXB) is a leading, fully integrated, cell and gene 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, ophthalmology, 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, 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. 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, AZD1222. Oxford Biomedica is based across several locations in Oxfordshire, UK and employs more than 670 people. Further information is available at www.oxb.com
The person who arranged for the release of this announcement on behalf of Oxford Biomedica plc was John Dawson, Chief Executive Officer.
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