Overview

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Our strategy

Our goal is to become an integrated, self-financing gene and cell therapy business.

Using our unique LentiVector® delivery platform, we have created a valuable portfolio of gene and cell therapy product candidates in the areas of oncology, ophthalmology and CNS disorders. We have strong partnerships with Novartis, Bioverativ (part of the Sanofi Group), Boehringer Ingelheim, the UK Cystic Fibrosis Gene Therapy Consortium and Imperial Innovations, Santen and Orchard Therapeutics, providing them with access to our intellectual property, state-of-the-art production facilities and expertise, and, in addition, we have licensed products and technology rights to Boehringer Ingelheim, Sanofi and Axovant. These partnerships provide us with multiple income streams, consisting of upfront milestone payments, development and production fees and potential royalties on future product sales. We plan to progress our wholly-owned products via spin-outs and out-licensing opportunities, while continuing to invest in our LentiVector® platform. We plan to continue our preclinical R&D to discover new potential products and are willing to make modest investments to internal and external assets up to early clinical stage before looking to spin out or out-licence to a partner.

Our business model

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LentiVector® platform
The Group’s LentiVector® platform is at the heart of Oxford Biomedica. The IP, patents and know-how, along with the Group’s 20 plus years of expertise in applying its LentiVector® technology for both in vivo and ex vivo therapies has made the Group not only a pioneer in the field but also the global leader that it is today. Looking to the future, further innovation on the platform is key to the Group’s success and to remain at the forefront of this technology. This constant innovation and ongoing investment in the platform alongside new collaborations such with Microsoft in artificial intelligence and machine learning will accelerate operational efficiency and driving down costs. The Group’s mission though this investment and innovation is to industrialise lentiviral vector and in the process of doing so seed the Group’s technology and IP across the cell and gene therapy markets to enable the full potential of this market to be reached and for Oxford Biomedica to reap the benefits of being a key enabler in this new wave of medical advancement.

Partner programmes: Contract Development and Manufacturing Organisation, (CDMO)
Oxford Biomedica was the first FDA and EMA approved commercial supplier of lentiviral vectors and in the last year has seen its partner funded pipeline grow from ten to 19 programmes. The Group leverages its position to provide partners with access to its world-leading capabilities and is the leading supplier of scale up solutions and commercial supply. Oxford Biomedica’s high-value, customer-centric partnerships form a strong business foundation, bringing ongoing repeatable revenues as demonstrated by the Group’s recently extended commercial supply agreement with Novartis and new partnership with Bristol Myers Squibb. As Oxford Biomedica continues its growth it is building new capacity, such as its Oxbox facility, to meet the increasing demand for its expertise. The Group expects the pipeline of partnerships to expand further as the year progresses.

OXB products (gene therapeutics)
Whilst the Group’s partnerships are the foundation of a strong underlying business, its wholly-owned gene and cell therapy pipeline offers significant upside. Leveraging its internal research expertise developed over 20 years, the Group selects patient-centric product candidates targeting clinical excellence. These are progressed through proof-of-concept, and potentially into early clinical development, before seeking third-party funding for full development and commercialisation. This approach reduces risk while retaining significant value through licence income, milestone payments and sales royalties. Additionally, Oxford Biomedica seeks to retain manufacturing rights for its out-licensed programmes, capturing further value throughout their development and commercialisation. This pipeline strategy is exemplified by the Group’s 2018 land-mark out-licensing agreement with Axovant for the Group’s Parkinson’s disease candidate.

Proprietary internal pipeline
Following an internal pipeline review priorities have now been set for where investment will be made. OXB-302 is the Group's priority candidate and targets haematological tumours with a CAR-T 5T4. The 5T4 antigen has been shown to be highly expressed on various haematological tumours as well as most solid tumours with restricted expression on normal tissues. Advanced  pre-clinical work is continuing on OXB-302 as the programme moves towards entry into the clinic. OXB-203, currently in pre-clinical studies, is targeting Wet AMD and uses Oxford Biomedica’s technology to deliver a gene to express afibercept (a VEGF-trap). This programme builds on the demonstrated long term gene expression data seen with its predecessor OXB-201, targeting angiostatin and endostatin for which work has now been halted with VEGF-trap approach taken with OXB-203 seen as a better validate target for wet-AMD. In addition, OXB-202, which targeted the same genes as OXB-201 but for corneal graft rejection, will also no longer be further advanced due to moving away from the angiostatin/endostatin approach. In addition, the Group is continuing  pre-clinical work on OXB-204 (LCA10) and OXB-103 (ALS) and a new pre-clinical program, OXB-401 (liver indication), has been initiated. Work on OXB-208 (RP1) has been de-prioritised and hence halted in favour of far more promising programmes. There were no cost implications that resulted from the decision to stop.