- Strengthens Oxford Biomedica’s position as a global pure-play cell and gene therapy CDMO with multi viral vector capabilities across multiple sites in EU, US and UK
- Expands Oxford Biomedica’s ability to serve more clients, unlocking development capacity and increasing revenues
- 3.2 per cent of the Company’s share capital issued to Institut Mérieux at a share price of 407.4p
The acquisition of ABL Europe, a pure-play European CDMO, strengthens
Pursuant to the transaction terms, as previously disclosed, ABL Europe has been acquired for a consideration of €15million, (including the value of €10million of pre-completion cash funding from Institut Mérieux in ABL Europe) in exchange for 3,149,374 new ordinary shares in the Company (representing 3.2 per cent of the Company’s enlarged issued share capital) which have been issued at a price of 407.4p. The shares have this morning been admitted to the premium listing segment of the Official List of the
In accordance with the terms of the transaction, Institut Mérieux intends to become a major shareholder in
The Company confirms that there is no material change to the 2023 financial guidance provided at the Interim Results in September previously reaffirmed in the Business Update on
Dr.
Michel Baguenault, Chief Executive Officer of Institut Mérieux, said: “Institut Mérieux is delighted that ABL Europe is becoming part of OXB, a world leading cell and gene therapy CDMO. Our investment reflects our confidence in OXB's potential to ensure ABL's long-term development. This transaction opens up exciting growth opportunities for ABL Europe, that will significantly expand their offering to biopharma and biotech companies, and ultimately help more patients.”
-Ends-
Enquiries:
Sophia Bolhassan, VP, Corporate Affairs and IR – T: +44 (0) 7394 562 425 / E: ir@oxb.com
ICR Consilium:
T: +44 (0)20 3709 5700 / E: oxfordbiomedica@consilium-comms.com
About
One of the original pioneers in cell and gene therapy, the Company has more than 25 years of experience in viral vectors; the driving force behind the majority of gene therapies. The Company collaborates with some of the world’s most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenoviral vectors, and other viral vector types. Oxford Biomedica’s world-class capabilities span from early-stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise.
Source:
2024 GlobeNewswire, Inc., source