Flash note: New non-dilutive funding to expand production
Oxford BioMedica has secured a $50m loan facility from Oberland Capital. The funds will be used primarily to expand the manufacturing capacity for Novartis’ CTL019/CART-019 clinical development programme, with $25m to be drawn down immediately. This production contract is important, not only commercially (worth up to $90m over three years) but in validating the company’s expertise. The loan has sufficient headroom to also fund Oxford BioMedica’s pipeline development and for product acquisitions.Oxford BioMedica is a producer of gene and cell therapy in lentiviral vector and cell therapy research, development and production. Gene and cell therapy is the treatment of disease by the delivery of therapeutic deoxyribonucleic acid into a patient's cells. This can be achieved either in vivo (referred to as gene therapy) or ex vivo (referred to as cell therapy), the latter being where patients' cells are genetically modified cells outside the body before being re-infused. Co.'s products include: OXB-102, which targets Parkinson's disease; OXB-202, which targets corneal graft rejection; and OXB-302 (CAR-T 5T4), which targets targets a range of cancers.
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