Business
Oxford Biomedica broadens leading viral vector offerings by incorporating Homology Medicines’ established AAV capabilities into a newly formed AAV Manufacturing and Innovation Business in the U.S. with Homology Medicines as 20% owner
Oxford Biomedica and Homology Medicines to establish Oxford Biomedica Solutions LLC, a new U.S.-based AAV Manufacturing and Innovation Business Homology
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[{"type":"text","content":"Oxford Biomedica and Homology Medicines to establish Oxford Biomedica Solutions LLC, a new U.S.-based AAV Manufacturing and Innovation Business Homology Medicines to receive $130 million from Oxford Biomedica to continue to advance its three clinical programs and genetic medicines platform Oxford Biomedica to invest $50 million to fund the growth of Oxford Biomedica Solutions LLC and will own 80%, with Homology Medicines to own 20%; Homology Medicines to secure preferred key customer status Dr. Roch Doliveux to become Interim CEO of Oxford Biomedica and John Dawson to retire as CEO and remain a Board Director of Oxford Biomedica Oxford Biomedica and Homology Medicines to host webcasts today to discuss the announcement OXFORD, United Kingdom and BEDFORD, Mass., Jan. 28, 2022 (GLOBE NEWSWIRE) -- Oxford Biomedica plc (LSE:OXB) (“Oxford Biomedica” or “the Group”), a leading gene and cell therapy group, and Homology Medicines, Inc. (Nasdaq: FIXX) (“Homology”), a genetic medicines company, announced today that the companies have agreed to establish a high-performing, full scope Adeno-Associated Virus (AAV) Manufacturing and Innovation Business in the U.S. As a result of the agreement, which is immediately accretive to the Group’s revenue growth with contribution from Homology and future customer pipeline, Oxford Biomedica will establish a presence in the U.S. and will offer global pharmaceutical and biotechnology clients innovative manufacturing expertise in AAV and lentiviral-based cell and gene therapies. Oxford Biomedica Solutions LLC will provide access to Homology’s proven end-to-end manufacturing capabilities. Future customers will also benefit from technical synergies brought in by the Group’s extensive innovations and know-how in viral vector manufacturing. This collaborative and complementary AAV and lentiviral vector-based approach has the potential to accelerate the mission to improve patients’ lives worldwide. Oxford Biomedica Solutions’ AAV Manufacturing and Innovation Business is to be led by Tim Kelly as Chief Executive Officer and Chair of its Board of Directors. Tim is currently the Chief Operating Officer of Homology, where he and his team were responsible for building and leading Homology’s internal technical and manufacturing operations, which will become Oxford Biomedica Solutions and incorporate the following: Pr...