Last checked at 25 Sep 2019 07:00
RNS REACH | 25 September 2019 |
Mercia Asset Management PLC
("Mercia")
Announcement of significant contract for OXGENETM
Mercia Asset Management PLC (AIM: MERC), the proactive, regionally focused specialist asset manager, is pleased to confirm that its portfolio company OXGENETM ("OXGENE"), formally known as Oxford Genetics, has augmented its relationship with one of the world's leading global life science companies, Abcam plc.
This expanded agreement, which follows an earlier deal announced in August 2018, will see OXGENE deliver at least 1,000 engineered cell lines over the next three years to support Abcam in its delivery of highly validated biological binders and assays, and to expand its catalogue of off-the-shelf edited cell lines.
OXGENE's high throughput gene editing platform integrates bioinformatics and automation for fast, efficient gene editing using CRISPR technology. Platform automation eliminates human error and improves reproducibly, while the rapid generation of custom cell lines brings scale and quality to gene editing projects.
Cheri Walker, SVP of Corporate Development at Abcam plc said, ''We have enjoyed great service from OXGENE and this expanded agreement complements our recent acquisition of the largest portfolio of diploid knock-out cells. We are excited about working with OXGENE to further realise our commitment to provide the best quality antibodies in the market using knock-out validation, in addition to expanding our edited cell line product portfolio."
Ryan Cawood, CEO at OXGENE said, "I'm particularly proud of our CRISPR based Gene Editing platform. We have proven our ability to take complex processes and deliver innovative and effective solutions. Technology-enabled scientific innovation is at the heart of what we do at OXGENE and it is a great achievement to have Abcam endorse what we have built thus far."
Dr Mark Payton, CEO of Mercia Asset Management PLC and non-executive director of OXGENE said, "OXGENE epitomises a truly disruptive approach and is building an impressive reputation with numerous commercial partnerships such as the one with Abcam. We have backed the company since the very start and are delighted to be involved in their journey as they continue to grow their position in the global multi-billion-dollar life sciences market."
For further information, please contact:
Mercia Asset Management PLC | +44 (0)330 223 1430 |
Mark Payton, Chief Executive Officer | |
Martin Glanfield, Chief Financial Officer | |
www.mercia.co.uk | |
Canaccord Genuity Limited | +44 (0)20 7523 8000 |
Simon Bridges, David Tyrrell (NOMAD and Broker) | |
Buchanan | +44 (0)20 7466 5000 |
Chris Lane, Vicky Haynes, Stephanie Watson | |
www.buchanan.uk.com |
About Mercia Asset Management PLC
Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital; the Group's 'Complete Capital Solution'. The Group initially nurtures businesses via its third-party funds under management, then over time Mercia can provide further funding to the most promising companies, by deploying direct investment follow-on capital from its own balance sheet.
The Group has a strong UK regional footprint through its eight offices, 19 university partnerships and extensive personal networks, providing it with access to high-quality deal flow. Mercia has over £500million of assets under management and, since its IPO in December 2014, has invested over £84million across its direct investment portfolio.
Mercia Asset Management PLC is quoted on AIM with the epic "MERC".