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Oxford Biomedica Updates Lentiviral Agreement
Oxford Biomedica Updates Lentiviral Agreement.
About this update from Oxford Biomedica Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3585V\n Oxford Biomedica PLC\n 13 December 2021\n \n \n \n \n \n \n The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018). Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n \n \n \n \n \n Oxford Biomedica updates and extends Commercial Supply Agreement for Manufacture of Lentiviral Vectors\n \n \n \n \n \n \n \n \n Oxford, UK - 13 December, 2021: Oxford Biomedica plc (LSE:OXB) (\"Oxford Biomedica\" or \"the Group\"), a leading gene and cell therapy group, announced today that it has agreed an extension and update to its commercial supply Agreement with Novartis for the manufacture of lentiviral vectors for several Novartis CAR-T products.\n \n Oxford Biomedica initially licensed its LentiVector® platform to Novartis in the field of CAR-T in October 2014, followed by a 5 year commercial supply agreement signed by Oxford Biomedica and Novartis in December 2019. Under the terms of the updated agreement announced today, the parties have extended the terms of the commercial supply agreement to the end of 2028 and Oxford Biomedica has regained the rights to its LentiVector® platform relating to three CAR-T targets, including CD19 targeted therapies. The Group now has the right to work with potential pharmaceutical and biotech partners other than Novartis across all CAR-T targets.\n \n In addition, under the terms of the new agreement Novartis has been granted additional flexibility in ordering of GMP batches across Oxford Biomedica's multiple GMP facilities but will no longer have a minimum order commitment. This is expected to result in a mid-single digit £ million reduction in previously guided FY21 revenues. The Group continues to work on multiple CAR-T programs with Novartis, including Kymriah®, as well as a broad number of development opportunities on which the Group earns manufacturing revenues, process development fees and royalties on net sales. \n \n \n John Dawson, Chief Executive Officer of Oxford Biomedica, said:\n \n \"T...