Oxford BioMedica announces a proposed placing to raise £8.1 Million

Oxford BioMedica announces a proposed placing to raise £8.1 Million

Oxford, UK – 23 February 2016: Oxford BioMedica plc ("Oxford BioMedica" or the "Company", together with its subsidiaries, the "Group") (LSE: OXB) is pleased to announce that it intends to raise £8.1 million pursuant to a placing of 128,383,528 new ordinary shares (the "Placing Shares") in the Company at a price of 6.3 pence per Placing Share (the "Offer Price") with both new and existing investors together with the Directors (the "Placing").

Highlights

·   128,383,528 Placing Shares to be issued on a non pre-emptive basis utilising existing shareholder authorities.

·    The Offer Price of 6.3 pence per Placing Share represents a 10.0 per cent. discount to the closing price of 7.0 pence per ordinary share in the Company on 22 February 2016 (being the last trading day prior to the date of this announcement).

·   The principal purpose of the Placing is to provide adequate working capital for the Group to continue to fund its investment in the Group's product development pipeline and in the development of lentiviral vector manufacturing-related technology to enable it to take advantage of a number of important catalysts expected during 2016.

John Dawson, Chief Executive Officer of Oxford BioMedica, said:

"Oxford BioMedica is increasingly recognised as a world-leading gene and cell therapy company with a pipeline of high value potential product candidates; outstanding capabilities in lentiviral vector technology and manufacturing; and extensive intellectual property; which together have led to important commercial relationships with major companies such as Sanofi, Novartis and GlaxoSmithKline.

"The funds raised as a result of this Placing will help us to build upon our strong position by furthering the development of our product candidates, and continuing to build and invest in our world leading lentiviral manufacturing capabilities.  I am looking forward to an exciting year for the Group as we are planning to take OXB-102 and OXB-202 into Phase I/II clinical studies over the next 12 months and we are also in discussions with several parties concerning out-licensing of our intellectual property and further process development and manufacturing contracts to complement our Novartis-related activities."

Jefferies International Limited ("Jefferies") is acting as Sponsor, Global Co-Ordinator and Bookrunner for the Company and WG Partners LLP ("WG Partners") is acting as UK Placement Agent for the Company in connection with the Placing.

 


For further information, please contact:

 

 

Oxford BioMedica:

John Dawson, Chief Executive Officer

Tim Watts, Chief Financial Officer

 

 

Tel: +44 (0)1865 783 000

Jefferies (Sponsor, Global Co-Ordinator and Bookrunner)

Gil Bar-Nahum

Simon Hardy

Lee Morton

Max Jones

Nicholas Moore

 

Tel: +44 (0)20 7029 8000

WG Partners (UK Placement Agent)

David Wilson

Claes Spång

 

Tel: +44(0)20 3705 9330

Financial and corporate communications enquiries:

Consilium Strategic Communications

Mary-Jane Elliott/Matthew Neal/Chris Welsh/Laura Thornton

 

 

 

Tel: +44 (0)20 3709 5700

 

 
 
 

 

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