Oxford BioMedica intends to obtain financing for further expansion

| By | Gene Therapy, Pharmaceutical Manufacturing
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Oxford BioMedica, a leading gene and cell therapy company, intends to raise approximately $28,4 million to fund the expansion of its bioprocessing facilities.

The proceeds will be used to expand the bioprocessing facilities to include four new GMP vector suites, fill and finish suites and warehouse and office space.

In recent months Oxford BioMedica, based in Oxford, UK, has been experiencing a step change in business development enquiries for its expertise across the LentiVector enabled platform and Oxford BioMedica has a strong intellectual property position, know-how and expertise across that platform. The company has successfully developed a new 200 litre manufacturing process with significant productivity improvements to address current and future demand across the main indications. Oxford BioMedica believes a new affordable full service site will meet expected long-term demand.

Oxford BioMedica currently has three facilities, all in the Oxford area, which house its state of the art laboratories and its FDA and MHRA approved facilities including three GMP suites. The company has a short list of potential sites identified as potential suitable premises for its bioprocessing expansion plans. The lead facility is in Oxford and close to the existing headquarters and the company has been negotiating a potential long lease for the premises which is around 7,800 square meters and is currently vacant. Oxford BioMedica considers contemplating that 4,200 square meters are converted into four GMP suites, a fill and finish facility and warehouse and office space with additional space available for further future expansion as required.

Oxford BioMedica bioprocessing facilities are currently working at close to capacity and discussions with several large pharmaceutical companies about potential collaboration and licence agreements are ongoing.

SOURCE: oxford biomedica
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