Business
Strategic Investment by Novo Holdings A/S
Strategic Investment by Novo Holdings A/S.
About this update from Oxford Biomedica Plc
[{"type":"text","content":"\n \nRNS Number : 2957A Oxford Biomedica PLC 28 May 2019 \n\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 \n \nOxford Biomedica announces strategic investment by Novo Holdings A/S\n \n \nOxford, UK - 28 May 2019: Oxford Biomedica plc (LSE:OXB) (\"OXB\" or \"the Group\"), a leading gene and cell therapy group, today announces that Novo Holdings A/S (\"Novo Holdings\"), has agreed to invest up to £53.5 million in the Group in return for new ordinary shares representing up to 10.1% of the outstanding shares after the capital increase (the \"Transaction\").\n \nThe proceeds from the Transaction will be used to repay the existing debt facility with Oaktree Capital Management in full and to further develop the LentiVector® platform and the proprietary product portfolio. The price per new ordinary share to be paid by Novo Holdings is equal to the closing market price on Friday, 24 May 2019. For more information, see section \"About the Transaction\" below.\n \nOXB is at the centre of the rapidly emerging gene and cell therapy sector by which life-changing and curative treatment has become a therapeutic reality. Leveraging its world-leading LentiVector® platform, OXB benefits from a dual strategy to support its partners in the development and commercialisation of their gene and cell therapy programmes while also pursuing the development of a proprietary product portfolio for later out-licensing. This strategy has resulted in a number of partnerships, including with Novartis and Sanofi, as well as the out-licensing of OXB-102 (AXO-Lenti-PD) to Axovant Gene Therapies. \n \nThe investment from Novo Holdings will enable OXB to take advantage of its leading position and further exploit the growth opportunities in the sector. \n \nJohn Dawson, Chief Executive Officer of Oxford Biomedica, commented:\n \n\"We are delighted that Novo Holdings has become a shareholder in Oxford Biomedica. Novo Holdings is a well-known and highly regarded long-term investor with significant expertise in working w...