One OXB:
Building a pure-play cell and gene therapy
CDMO
Preliminary results for the year ended 31 December 2023
April 2024
Forward looking statements
This presentation does not constitute an offer to sell or a solicitation of offers to buy Ordinary Shares (the "Securities"). Although reasonable care has been taken to ensure that the facts stated in this presentation are accurate and that the opinions expressed are fair and reasonable, the contents of this presentation have not been formally verified by Oxford
Biomedica plc (the "Company") or any other person. Accordingly, no
representation or warranty, expressed or implied, is made as to the fairness, accuracy, completeness or correctness of the information and opinions contained in this presentation, and no reliance should be placed on such information or opinions. Further, the information in this presentation is not complete and may be changed. Neither the Company nor any of its respective members, directors, officers or employees nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of such information or opinions or otherwise arising in connection with this presentation.
This presentation may contain forward-looking statements that reflect the Company's current expectations regarding future events, its liquidity and results of operations and its future working capital requirements. Forward- looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of the Company's development, site integration and consolidation strategies, the successful and timely reorientation to a pure-play CDMO, timely completion of customers' clinical studies, securing satisfactory licensing agreements for services, the ability of the Company to obtain additional financing for its operations and the market conditions affecting the availability and terms of such financing.
2
A clear strategy that will help us fulfil our mission
Mission:
To enable our clients to deliver life-changing therapies to patients
3
Delivering long-term sustainable growth
3 pillar plan
3
Pillars
1 | 2 | 3 |
Clear strategy | Strong | Clear path |
implementation | towards | |
plan | profitability |
4
Building a pure-play world leading CDMO in cell and gene therapy
- Ongoing transformation of OXB into a pure-play CDMO with a multi-vector,multi-site model
o Acquired ABL Europe from Institut Mérieux on 29th January 2024,
expanding manufacturing and bioprocessing footprint beyond | Oxford, UK | |
Bedford, MA | ||
UK and US, and also into the EU | ||
Strasbourg, France | ||
Lyon, France |
- One OXB strategy to globally align operations and better serve our clients well underway
- Restructured operations, streamlined cost base and strengthened leadership team
- Transfer of our lentiviral vector capabilities to Bedford MA, US
- Launched the Tetravect system, our 4th generation lentiviral vector delivery system
5
Recent successes provide confidence in medium-term guidance
Growth in business development pipeline and strong KPIs for 2024 YTD
First successes of new strategy demonstrated during 2023
51% growth in BD pipeline, from $291m to $438m during FY23
54% growth in client orders; £85m (excl. vaccine manufacturing) in FY22 to £131m in FY23
Medium term guidance supported by strong KPIs for 2024 YTD
31% growth in BD pipeline since the start of the year to £573m
Grew client portfolio to 35 clients
and 51 programmes1 (April 2023:
18 clients and 34 programmes)
11% growth in revenue backlog
to £104m2 at 31 March 2024 (from £94m at YE23)
Guidance for FY2024 as previously communicated
FY 2024 revenues expected to be between £126m and £134m (~40%-50%growth over FY23)
Broadly breakeven EBITDA in 2024 excl. Oxford Biomedica (France); incl. Oxford Biomedica (France), a modest operating loss in 2024 (fully funded by €10m cash funding from Institut Mérieux)
On track to be profitable on an EBITDA level in 2025
6 1 As at April 2024. Includes France as a result of acquisition of ABL Europe, completed in January 2024.
2 Excludes a new order with a US-based client preparing for commercial launch (agreement announced in March 2024) which is excluded from this backlog figure.
Creating One OXB
One OXB strategy
Transformation and integration of >20 global workstreams to create One OXB
Foster a unified One OXB culture and set of global values
Attract,
develop and retain highly motivated people
Innovate to help our clients bring their treatments to market faster
E.g. Develop client-centric innovation to shape the future of the cell and gene therapy
Streamline operations to enhance efficiencies
E.g. Streamline internal
Invest to
better serve
clients
Generate
increasing
returns
Operate a | Provide best-in-class | |
client centric | ||
pure-play CDMO practices | ||
organisation | ||
Deliver | Deliver platform technologies | |
excellent client | from all 3 geographies | |
experiences | E.g. Complete tech transfer of | |
lenti and AAV platforms to US |
review processes and harmonise resource utilisation across all sites
Expand existing
partnerships
and attract new clients
and EU |
Leverage our portfolio of CDMO services
8
Commercial momentum driving growth
OXB's trajectory supported by strong market fundamentals
Drivers fuelling the growth, market estimated at $2.8bn with expected 4-year growth of ~20%
Viral vector outsourced supply market
size and growth
Market size in $bn
2024-28 | 5.8 | 2024-28 |
CAGR | 4.9 | CAGR |
~20% | ||
4.1 | 1.8% |
3.3 | 14.3% |
2.8 | |
6.6% | |
28.7% |
2024 | 2025 | 2026 | 2027 | 2028 | |||||
Adeno-associated virus (AAV) | Lentivirus (LV) | ||||||||
Others | Adenovirus | ||||||||
3 key market drivers
FDA approvals: increasing approval rates for commercial molecules (~10% of total in 2023)
Paradigm shift: from treatments to cures, perception of standard treatments is shifting
Biotech funding: picking up after post-COVIDdip in 2022-23
10
Source: Company estimates and third party research
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Oxford BioMedica plc published this content on 29 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2024 10:30:19 UTC.