Business
Extension of Commercial Supply Agreement
Extension of Commercial Supply Agreement.
About this update from Oxford Biomedica Plc
[{"type":"text","content":"\n \nRNS Number : 4052X Oxford Biomedica PLC 19 December 2019 \n\n \nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.\n \nOxford Biomedica Extends Commercial Supply Agreement by Five Years for Manufacture of Lentiviral Vectors\n \n \nOxford, UK - 19 December 2019: Oxford Biomedica plc (LSE:OXB) (\"Oxford Biomedica\" or \"the Group\"), a leading gene and cell therapy group, announced today that it has extended its commercial supply agreement with Novartis for the manufacture of lentiviral vectors for the Novartis CAR-T portfolio including five lentiviral vectors for CAR-T products. This builds on the existing three year commercial supply agreement signed by the parties in July 2017.\n \nUnder the terms of the Agreement, Oxford Biomedica will receive a minimum $75 million from Novartis over the next five years in manufacturing revenue with additional undisclosed process development fees. A mid single digit £m payment will also be paid in the medium term as a facility reservation fee with other terms such as royalties on net sales of resulting CAR-T products as previously agreed in 2014. \n \nOxford Biomedica will dedicate a manufacturing facility to Novartis within its new 7,800m2 commercial manufacturing centre OxBox, in Oxford, UK. Oxford Biomedica will also be responsible for ensuring that at least two of its GMP facilities are capable of commercial supply for Novartis' CAR-T progammes.\n \nJohn Dawson, Chief Executive Officer of Oxford Biomedica, said: \"This five year extension to our commercial supply agreement with Novartis for the LentiVector® platform is testament to the joint success achieved in this strategically important collaboration since 2013. This closely integrated collaboration with Novartis underlines the long-term committment both companies have made to manufacturing CAR-T therapies.\n \n\"This is also the first long-term commitment of a partner to reserve a dedicated GMP facility in our new OxBox GMP facility, which we expect to become operational in early 2020. While stable and ...