Last checked at 29 Jan 2024 08:38
Oxford Biomedica completes acquisition of ABL Europe
· Strengthens Oxford Biomedica's position as a global pure-play cell and gene therapy CDMO with multi viral vector capabilities across multiple sites in EU, US and UK
· Expands Oxford Biomedica's ability to serve more clients, unlocking development capacity and increasing revenues
· 3.2 per cent of the Company's share capital issued to Institut Mérieux at a share price of 407.4p
Oxford, UK - 29 January 2024: Oxford Biomedica plc (LSE:OXB) ("Oxford Biomedica" or "the Company"), a quality and innovation-led cell and gene therapy CDMO, today announces that, following the announcements on 20 September and 4 December 2023, it has today completed the acquisition of ABL Europe SAS ("ABL Europe") from Institut Mérieux SA ("Institut Mérieux").
The acquisition of ABL Europe, a pure-play European CDMO, strengthens Oxford Biomedica's position as a world-leading cell and gene therapy CDMO. This strategic move broadens the Company's international development, manufacturing and testing presence, services and capacity by establishing a strong footprint within the European Union with facilities in Lyon and Strasbourg, France. In addition, the acquisition increases Oxford Biomedica's capacity in process and analytical development and early-stage manufacturing across Adenovirus, Lentiviral vectors, AAVs and with this acquisition, MVA and Vaccinia.
Pursuant to the transaction terms, as previously disclosed, ABL Europe has been acquired for a consideration of ?15million, (including the value of ?10million of pre-completion cash funding from Institut Mérieux in ABL Europe) in exchange for 3,149,374 new ordinary shares in the Company (representing 3.2 per cent of the Company's enlarged issued share capital) which have been issued at a price of 407.4p. The shares have this morning been admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of London Stock Exchange plc.
In accordance with the terms of the transaction, Institut Mérieux intends to become a major shareholder in Oxford Biomedica and prior to today's completion of the acquisition of ABL Europe had already built a stake of 3.3 per cent of the Company's then issued share capital through purchases in the open market, with the intention of owning approximately 10.0 percent of the Company's ordinary shares by the end of Q3 2024.
The Company confirms that there is no material change to the 2023 financial guidance provided at the Interim Results in September previously reaffirmed in the Business Update on 7 December 2023. The Company will in due course issue medium term financial guidance to include the impact of the acquisition.
Dr. Frank Mathias, Chief Executive Officer of Oxford Biomedica, commented: "Welcoming ABL Europe into the OXB family is an important step to unlock our ability to serve more clients with existing and new technologies, expanding development capacity, and further broadening our geographical presence. We are also delighted to have Institut Mérieux as a long-term shareholder as we continue to solidify our position as a world leading pure-play quality and innovation-led global cell and gene therapy CDMO."
Michel Baguenault, Chief Executive Officer of Institut Mérieux, said: "Institut Mérieux is delighted that ABL Europe is becoming part of OXB, a world leading cell and gene therapy CDMO. Our investment reflects our confidence in OXB's potential to ensure ABL's long-term development. This transaction opens up exciting growth opportunities for ABL Europe, that will significantly expand their offering to biopharma and biotech companies, and ultimately help more patients."
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Enquiries:
Oxford Biomedica plc:
Sophia Bolhassan, VP, Corporate Affairs and IR - T: +44 (0) 7394 562 425 / E: ir@oxb.com
ICR Consilium:
T: +44 (0)20 3709 5700 / E: oxfordbiomedica@consilium-comms.com
Mary-Jane Elliott / Matthew Neal / Davide Salvi
About Oxford Biomedica
Oxford Biomedica (LSE: OXB) is a quality and innovation-led cell and gene therapy CDMO with a mission to enable its clients to deliver life changing therapies to patients around the world.
One of the original pioneers in cell and gene therapy, the Company has more than 25 years of experience in viral vectors; the driving force behind the majority of gene therapies. The Company collaborates with some of the world's most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV), adenoviral vectors, and other viral vector types. Oxford Biomedica's world-class capabilities span from early-stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise.
Oxford Biomedica, a FTSE4Good constituent, is headquartered in Oxford, UK. It has locations across Oxfordshire, UK, Lyon and Strasbourg, France, and near Boston, MA, US. Learn more at www.oxb.com, and follow us on LinkedIn and YouTube.