Gene-based biopharmaceutical company Oxford BioMedica has reported that revenue rose to 7.8m pounds in the full year 2012 from 7.7m pounds one year earlier.
In its preliminary results for the year ending December 31st, the company stated that fundraising of £11.6m was completed in July 2012 with net proceeds £10.1m.
Operational highlights included the Sanofi ocular partnership nearing successful conclusion with $53m committed to date.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company also reported that the ProSavin Phase I/II study successfully met primary endpoints while industry collaborations validated Oxford BioMedica's 5T4 tumour antigen technology.
John Dawson, Chief Executive Officer of Oxford BioMedica, said: "During 2012 we reported positive developments across our core clinical programmes, strengthened our LentiVector technology platform and secured MHRA[UK Medicines and Healthcare products Regulatory Agency] approval for our GMP[good manufacturing practice] manufacturing plant.
"Macroeconomic conditions remain challenging, however sentiment towards the biopharmaceutical sector is improving and we are seeing more interest than ever in personalised medicines and niche disease indications, all of which positions Oxford BioMedica well for further developments in the year ahead."
Oxford BioMedica's share price was up 1.69% to 2.40% to 2.40p at 10:41 on Wednesday.
MF
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
