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Oxford BioDynamics PLC - biotechnology firm focused on discovery and development of epigenetic biomarkers - Says 2020 was a year of transition and development with company readying for near-term commercialisation of its 3D genomics technology platform, EpiSwitch. Says R&D project revenues were affected by the Covid-19 pandemic. For year ended September 30, posts revenue of GBP456,000 down from GBP907,000 as pretax loss widens to GBP4.9 million from GBP3.4 million.
Chief Executive Officer Jon Burrows says: "Despite the tribulations of the pandemic, OBD has made significant strategic and organizational progress over the year. We enter 2021 with an expanded strategic focus, team, and infrastructure to drive near-term commercialization of the EpiSwitch technology, via multiple commercial pathways, beginning with our COVID-19 severity test. The next anticipated launch, later in 2021, will be the proprietary EpiSwitch Universal IO response test.
"We will also continue to identify and develop further proprietary products for which there is commercial demand, building on our existing expertise in indications such as rheumatoid arthritis, lymphoma, cancer, and veterinary medicine. Finally, our biomarker arrays and 3D genome bioinformatics tools will be made commercially available to the R&D market and we will continue to work closely with big pharma to leverage the insights of our 3D genome knowledgebase."
Current stock price: 73.00 pence
Year-to-date change: down 12%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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