Revenue rises to 7.8m pounds in full year at Oxford Biomedica

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

Get 6 issues 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

Sign up

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