Oxford Biomedica announces that SioGene Therapies intends to cease the license agreement for gene therapy programme in Parkinson's disease
- Negligible financial impact on Oxford Biomedica in the short and medium term
- Non-core, legacy asset to be returned and out-licensed again in due course
- Oxford Biomedica fully focused as a global vector-agnostic gene and cell therapy innovative CDMO
Oxford, UK - 31January, 2022: Oxford Biomedica plc (LSE:OXB) ("Oxford Biomedica" or "the Company"), a leading gene and cell therapy group, announced today that it was informed on Monday 31 January by Sio Gene Therapies (Sio) that Sio intends to return the global rights for AXO-Lenti-PD and that they intend to cease work on this gene therapy programme in Parkinson's Disease. This follows Sio's announcement today about the resignation of their CEO where Sio also indicates a constraint on resource requirements that has caused Sio to deprioritise the programme. All rights shall be returned to Oxford Biomedica at no cost to the Company.
Current status of programme
Sio is currently conducting a Phase 2 SUNRISE-PD trial with AXO-Lenti-PD. In October 2020, Sio announced positive six-month follow up data from the second cohort of the trial, showing a 21-point mean improvement in UPDRS Part III 'OFF' score, a 40% improvement from baseline based on the two evaluable patients in the study. AXO-Lenti-PD continued to be shown to be well-tolerated with no treatment-related serious adverse events at six months. To date, six patients have been dosed in the Phase 2 study. Oxford Biomedica originally out-licensed AXO-Lenti-PD (previously named OXB-102) to Sio Gene Therapies (previously called Axovant Gene Therapies), in June 2018.
Financial guidance
The Company expects that the impact on revenue will be negligible over at least the coming 24 month period as no financial milestones were expected in the short and medium-term.
Next steps
Oxford Biomedica does not plan to invest in the development of this non-core legacy asset and plans to out-license it again in due course to a suitable partner with resource capabilities and funding to further develop this asset.
Dr. Roch Doliveux, Chair and Interim CEO of Oxford Biomedica, commented:"Following Friday's announcement, Oxford Biomedica's goal is to become an innovative global viral vector leader that provides solutions to Cell and Gene Therapy for their process development and manufacturing needs across key viral vectors. The Parkinson's programme is non-core to our strategy."
Enquiries
Oxford Biomedica plc
Stuart Paynter, Chief Financial Officer
Sophia Bolhassan, Head of Investor Relations
T: +44 (0)1865 783 000 / E: ir@oxb.com
Consilium Strategic Communications
Mary-Jane Elliott / Matthew Neal
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