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IN BRIEF: Institut Merieux ups stake in Oxford BioMedica toward 10%

Mon, 29th Jan 2024 12:35

Oxford BioMedica PLC - Oxfordshire, England-based gene and cell therapy - Completes purchase of ABL Europe SAS from Institut Merieux SA, cementing the partnership between Oxford BioMedica and Institut Merieux. ABL is a cell and gene therapy contract development and manufacturing organization with facilities in Lyon and Strasbourg in France. For the EUR15 million acquisition, Oxford BioMedica will issue 3.1 million new shares to Lyon-based Institut Merieux at a price of 407.4 pence, well above its current market price. This is a 3.2% stake, and Institut Merieux already had 3.3%, giving it a total 6.5% holding. Oxford BioMedica says Institut Merieux intends to raise this to 10.0% by the end of the September.

Oxford BioMedica says there has been "no material change" to its guidance for 2023 results since its interim results were released in September.

Current stock price: 179.59p, down 0.3% in London on Monday afternoon

12-month change: down 57%

By Tom Waite, Alliance News editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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