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 (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.
Oxford Biomedicaupgrades financial guidance forsupply agreement with AstraZenecafor manufacture of COVID-19 Vaccine
Oxford, UK - 18May, 2021: Oxford Biomedica plc (LSE:OXB) ("Oxford Biomedica" or "the Group"), a leading gene and cell therapy group, announced today an update on the 18 month supply agreement signed with AstraZeneca UK Ltd ("AstraZeneca") in September 2020.
Following successful manufacture of large-scale batches of AstraZeneca's COVID-19 Vaccine, AstraZeneca has today committed to an increase in the number of batches required from Oxford Biomedica in the second half of 2021. As a result of this, the Group is raising revenue guidance for expected cumulative revenues from AstraZeneca by the end of 2021 from in excess of £50 million to in excess of £100 million, and as a result expects significant growth in Group Operating EBITDA in the year ending 2021.
As previously guided, Oxford Biomedica does not expect the commitment to AstraZeneca for vaccine production to have any impact on the Group's current partnerships or ability to secure and support additional new partnerships in the cell and gene therapy field.
Background to the agreement with AstraZeneca
Oxford Biomedica announced an 18 month supply agreement in September 2020 under a three year Master Supply and Development Agreement).
John Dawson, Chief Executive Officer of Oxford Biomedica, said:"Everyone involved with production of the COVID-19 Vaccine can be truly proud of their achievement in manufacturing batches of vaccine from our Oxboxmanufacturing facility. We are delighted to be a key supplier of the vaccineandthe Group is proud to be part of thisworld-leading vaccination project that is saving many lives."
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Enquiries:
Oxford Biomedica plc
John Dawson, Chief Executive Officer T: +44 (0)1865 783 000
Stuart Paynter, Chief Financial Officer T: +44 (0)1865 783 000
Catherine Isted, Head of Corporate Development & IR T: +44 (0)1865 954 161 / E: ir@oxb.com
Consilium Strategic Communications
Mary-Jane Elliott / Matthew Neal T: +44 (0)20 3709 5700
About Oxford Biomedica
Oxford Biomedica
The person who arranged for the release of this announcement on behalf of Oxford Biomedica plc was John Dawson, Chief Executive Officer.
