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RNS Number : 4166Q
Oxford Biomedica PLC
06 June 2018
Oxford BioMedica and Axovant Sciences enter into a $842.5
Million Exclusive Worldwide Licence Agreement for OXB-102 for the
Treatment of Parkinson's Disease
Conference call for analysts to be held at 2:30pm BST / 9:30am
ET (see details below)
Oxford, UK- 06 June 2018: Oxford BioMedica plc (LSE:OXB)
("Oxford BioMedica" or "the Group"), a leading gene and cell
therapy group, today announces that it has entered into an
exclusive worldwide licensing agreement with Axovant Sciences
(NASDAQ: AXON) to develop and commercialise OXB-102, a gene therapy
developed by Oxford BioMedica for Parkinson's disease utilising the
LentiVector(R) platform.
Under the terms of the agreement, Oxford BioMedica will receive
a $30 million upfront payment (approximately GBP22 million)
including $5 million as pre-payment for manufacturing activities
related to OXB-102, now renamed, AXO-Lenti-PD. Oxford BioMedica is
also eligible to receive $55 million upon the achievement of
specified development milestones and $757.5 million upon the
achievement of specified regulatory and sales milestones, with 7%
to 10% tiered royalties on net sales of AXO-Lenti-PD.
Axovant Sciences, a clinical-stage biopharmaceutical company
dedicated to advancing treatments for patients with life-altering
neurologic conditions and a member of the Roivant family of
companies, will fund all clinical development costs and
manufacturing process development and scale-up activities for
AXO-Lenti-PD. The agreement also allows for both parties to put in
place a clinical and commercial supply agreement for GMP
manufacturing of AXO-Lenti-PD at Oxford BioMedica. Roivant remains
committed to Axovant's success and are excited about the scientific
potential of AXO-Lenti-PD. Axovant will be able to harness the full
Roivant drug development platform to ensure its rapid
development.
Axovant Sciences expects to initiate a Phase I/II dose
escalation study of AXO-Lenti-PD in patients with advanced
Parkinson's disease by the end of 2018.
John Dawson, Chief Executive Officer of Oxford BioMedica, said:
"We are delighted to sign this significant agreement which not only
underlines our LentiVector(R) enabled platform and product
development strategy but further demonstrates Oxford BioMedica's
ability to build multiple partnerships with leaders in their
respective therapeutic fields. This agreement with Axovant also
successfully demonstrates Oxford BioMedica's pre-stated strategy to
externalise product development beyond the end of the pre-clinical
phase.
"Axovant's expertise and focus on neurological disorders, which
includes Parkinson's disease, makes them an ideal development and
commercialisation partner for this programme. Coupled with strong
support from parent company Roivant, we believe Axovant is
perfectly positioned to bring AXO-Lenti-PD to the market as quickly
as possible to treat patients with Parkinson's, a disease which
still has a high unmet need."
Commenting on the deal, Pavan Cheruvu, Chief Executive Officer
of Axovant Sciences, said: "Axovant, together with our parent
company Roivant, remains committed to developing innovative
treatments for serious degenerative conditions such as Parkinson's
disease, and we are excited to partner with Oxford BioMedica, a
recognised global leader in cell and gene therapy. OXB-102 is a
potentially best-in-class gene therapy with the potential to
transform Parkinson's disease treatment. This is an area of
significant unmet medical need and a major market opportunity.
Advancing this high-quality candidate is a key priority for the
team at Axovant and we very much look forward to working with
Oxford BioMedica."
-Ends-
Conference call for analysts:
A conference call and Q&A session for analysts will be held
today at 2.30pm BST / 9.30am ET. The presentation will be available
on the Group's website at www.oxfordbiomedica.co.uk.
Please visit the website approximately 10 minutes before the
conference call to download the presentation slides.
Conference call details:
Participant dial-in: 0800 376 7922
International dial-in: +44 (0) 207 192 8000
Participant code: 1857539
An audio replay file will be made available shortly afterwards
via the Group's website: www.oxfordbiomedica.co.uk
For further information,
please contact:
Oxford BioMedica plc: Tel: +44 (0)1865 783 000
John Dawson, Chief Executive
Officer
Stuart Paynter, Chief Financial
Officer
Financial and corporate communications Tel: +44 (0)20 3709 5700
enquiries:
Consilium Strategic Communications
Mary-Jane Elliott/Matthew
Neal/Laura Thornton
Peel Hunt (Joint Corporate Brokers): Tel: +44 (0)20
James Steel 7418 8900
Dr. Christopher Golden
WG Partners (Joint Corporate Brokers): Tel: +44 (0)20
David Wilson 3705 9321
Claes Spång
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. Upon the publication
of this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
Notes to editors
About Oxford BioMedica(R)
Oxford BioMedica (LSE:OXB) is a leading gene and cell therapy
group focused on developing life changing treatments for serious
diseases. Oxford BioMedica and its subsidiaries (the "Group") have
built a sector leading lentiviral vector delivery platform
(LentiVector(R) ), which the Group leverages to develop in vivo and
ex vivo products both in-house and with partners. The Group has
created a valuable proprietary portfolio of gene and cell therapy
product candidates in the areas of oncology, ophthalmology and CNS
disorders. The Group has also entered into a number of
partnerships, including with Novartis, Bioverativ, Sanofi, GSK,
Orchard Therapeutics, GC LabCell and Immune Design, through which
it has long-term economic interests in other potential gene and
cell therapy products. Oxford BioMedica is based across several
locations in Oxfordshire, UK and employs more than 320 people.
Further information is available at www.oxfordbiomedica.co.uk.
About OXB-102 (AXO-Lenti-PD)
OXB-102, now known as AXO-Lenti-PD, is a lentiviral gene therapy
with a clinically validated mechanism of action for the delivery of
the three genes that encode the enzymes required for endogenous
dopamine synthesis. Unlike current drug treatment, in which
efficacy diminishes with long-term use, AXO-Lenti-PD is designed to
provide patient benefit for multiple years following a single
administration. AXO-Lenti-PD is a second-generation vector
construct of OXB-101, also known as ProSavin(R) , with greater
potency and increased transgenic expression observed in preclinical
studies. Oxford BioMedica has successfully completed a Phase I/II
study for OXB-101, which met its primary endpoint. The results,
which were published in Lancet in 2014, demonstrate favourable
safety and tolerability and a statistically significant improvement
of motor function as measured by the UPDRS Part III score at 6 and
12 months following a one-time administration. This improvement was
sustained in most patients for up to four years despite the
progressively degenerative nature of Parkinson's disease.
About Axovant Sciences
Axovant is a clinical-stage biopharmaceutical company dedicated
to advancing treatments for patients with life-altering neurologic
conditions. Axovant is committed to developing a pipeline of
product candidates, and ultimately commercializing them, by
identifying and developing novel treatments for unmet needs in
neurology. For more information, visit www.axovant.com.
About Roivant Sciences
Roivant Sciences is a global biopharmaceutical company focused
on reducing the time and cost of the drug development process to
improve the lives of patients and their families. Roivant partners
with innovative biopharmaceutical companies and academic
institutions to ensure that important medicines are rapidly
delivered to patients.
The Roivant family of companies includes Myovant (women's health
and prostate cancer), Axovant (neurology), Urovant (urology),
Enzyvant (rare diseases), Dermavant (dermatology), Genevant (RNA
therapeutics), Metavant (cardiometabolic diseases), Datavant
(healthcare data), and Arbutus (hepatitis B). Today there are 24
investigational drugs in 11 therapeutic areas being tested in over
50 clinical trials and over 300 nonclinical studies across the
Roivant family of companies.
For more information, please visit www.roivant.com
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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