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Project Aquarius
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About this update from Oxford Biomedica Plc
[{"type":"text","content":"\n\n \n \nThe 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 \nOxford Biomedica and Institut Mérieux enter into exclusive negotiations with respect to the proposed acquisition by Oxford Biomedica of ABL Europe from Institut Mérieux as part of pure-play CDMO transformation \n· The Proposed Transaction, would:\no Provide Oxford Biomedica multi viral vector CDMO capabilities across multiple sites in EU, US and UK\no Expand Oxford Biomedica's capacity to address increased client demand\no Reinforce Oxford Biomedica's position as a world leading cell and gene therapy CDMO providing services in Adenovirus, Lentiviral vectors, AAVs and with this acquisition, Pox Virus, MVA and Vaccinia\no Provide new facilities in France to enhance service for clients with manufacturing capacity and process development in the EU\n \n· Terms of the Proposed Transaction would include:\no Consideration of €15million, (including the value of €10million of pre-completion cash funding in ABL Europe from Institut Mérieux), in exchange for Oxford Biomedica shares at an issue price of not less than 407.4p per share\no Additional €20million of committed future funding from Institut Mérieux to ABL Europe by way of subscription for Oxford Biomedica shares, with timing at Oxford Biomedica's discretion; pricing at the 30-day VWAP to the day before the date of this subscription\no Institut Mérieux to become a major shareholder in Oxford Biomedica\n \nOxford, UK - 20 September 2023: Oxford Biomedica plc (LSE:OXB) (\"Oxford Biomedica\" or \"the Company\"), a quality and innovation-led cell and gene therapy CDMO, and Institut Mérieux SA (\"Institut Mérieux\") today announce that they have entered into exclusive negotiations with respect to the proposed acquisition by Oxford Biomedica of ABL Europe SAS (\"ABL Europe\"), a pure play European CDMO with specialised expertise in th...