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Oxford Biomedica upgrades financial guidance fo...
Oxford Biomedica upgrades financial guidance fo....
About this update from Oxford Biomedica Plc
[{"type":"text","content":"\n \n \n Oxford Biomedica upgrades financial guidance for supply agreement with AstraZeneca for manufacture of COVID-19 Vaccine\n \n \n \n \n The 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\n (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018)\n . 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 Oxford \n Biom\n edica\n upgrades \n financial \n guidance for\n s\n upply\n a\n greement with \n AstraZeneca\n for manufacture of\n COVID\n -19 \n V\n accine\n \n Oxford, UK – 18May, 2021: Oxford Biomedica plc (LSE:OXB) (“Oxford Biomedica” or “the Group”), a leading gene and cell therapy group, announced today an update on the 18 month supply agreement signed with AstraZeneca UK Ltd (“AstraZeneca”) in September 2020.\n Following successful manufacture of large-scale batches of AstraZeneca’s COVID-19 Vaccine, AstraZeneca has today committed to an increase in the number of batches required from Oxford Biomedica in the second half of 2021. As a result of this, the Group is raising revenue guidance for expected cumulative revenues from AstraZeneca by the end of 2021 from in excess of £50 million to in excess of £100 million, and as a result expects significant growth in Group Operating EBITDA in the year ending 2021.\n As previously guided, Oxford Biomedica does not expect the commitment to AstraZeneca for vaccine production to have any impact on the Group’s current partnerships or ability to secure and support additional new partnerships in the cell and gene therapy field.\n \n Background to the agreement with AstraZeneca \n Oxford Biomedica announced an 18 month supply agreement in September 2020 under a three year Master Supply and Development Agreement (“the Agreement”) with AstraZeneca UK Ltd (“AstraZeneca”) for large-scale commercial manufacture of the adenovirus vector-based COVID-19 vaccine, AZD1222. (see LINK). \n \n John Dawson, Chief \n Executive Officer of Oxford \n Biom\n edica\n , said:\n “\n Everyone involved with production of \n the COVID-19 Vaccine\n can be truly proud of their achievement in...