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Oxford BioMedica, one of Britain’s oldest biotech companies, has concluded a $842m deal with Axovant Sciences of the US to commercialise its gene therapy for Parkinson’s disease. News of the exclusive worldwide licensing agreement pushed up Oxford BioMedica shares by 15 per cent to 833p on the London Stock Exchange. Oxford BioMedica will receive a $30m upfront payment. The company, spun out of Oxford university in 1995, is eligible to receive $812m if it achieves specified development, regulatory and sales milestones, with 7-10 per cent royalties on sales of the Parkinson’s product. Axovant Sciences, which focuses on treatments for neurological diseases, is a member of the Roivant family of companies. It will fund all clinical and manufacturing development costs for the product, which will be called AXO-Lenti-PD.
The deal will accelerate the clinical testing of Oxford BioMedica’s Parkinson’s disease gene therapy, which started about ten years ago. John Dawson, Chief Executive Officer of Oxford BioMedica, said: 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. The Axovant agreement follows other recent deals by Oxford BioMedica to commercialise its LentiVector platform, which uses a virus to introduce therapeutic genes to patients. Novartis will use the technology to treat cancer and Sanofi to treat haemophilia.
https://www.ft.com/content/027f49c6-6970-11e8-b6eb-4acfcfb08c11
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