Yahoo Finance Oxford Biomedica gets £50m revenue lift from AstraZeneca jab
Oxford Biomedica, the gene and cell therapy specialist spearheading commercial manufacture of the Oxford Covid-19 vaccine in the UK, saw total revenues leap by more than a third in 2020.
The FTSE250 company’s income rose from £64.1million to £87.7million, with profit before costs of £7.3million slightly above consensus forecasts.
It expects total revenues from its collaboration with AstraZeneca to produce the Covid-19 vaccine in the region of £50million by the end of 2021.
The group also opened a new state-of-the-art 84,000sq ft production facility - the ‘Oxbox’ - and signed partnerships with 20 pharmaceutical companies for its gene delivery technology/ .
That includes a potential $227 million five-year clinical supply agreement with Juno Therapeutics/Bristol Myers Squibb to batch produce cancer therapies using engineered ‘killer T-cells’ which destroy damaged cells.
CEO John Dawson told investors the results represent “a true testament to the world-class calibre and dedication of our staff in the year that the group also gained entry to the FTSE250.”
He added: “Looking to the future, with the continued tide of growth in cell and gene therapy, coupled with the group’s leadership position in the lentiviral vector (LVV) field, we are well positioned to advance both our own proprietary pipeline and that of our current and future partners’ programmes.”
Dr John Priestner, associate healthcare analyst at Edison Group said: "2020 has been an exceptional year for OXB.
“It is one of few global LVV manufacturers with capacity in a thriving cell and gene therapy industry and we anticipate additional deals in the near term to further diversify OXB’s revenue streams.”
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