Market Overview

Oxford BioMedica and Axovant Sciences enter into a $842.5 Million Exclusive Worldwide Licence Agreement for OXB-102 for the Treatment of Parkinson's Disease

Share:

~ Conference call for analysts to be held at 2:30pm BST /
9:30am ET (see details below)

Oxford BioMedica plc (LSE:OXB) ("Oxford BioMedica" or "the Group"), a
leading gene and cell therapy group, today announces that it has entered
into an exclusive worldwide licensing agreement with Axovant Sciences
(NASDAQ:AXON) to develop and commercialise OXB-102, a gene therapy
developed by Oxford BioMedica for Parkinson's disease utilising the
LentiVector® platform.

Under the terms of the agreement, Oxford BioMedica will receive a $30
million upfront payment (approximately £22 million) including $5 million
as pre-payment for manufacturing activities related to OXB-102, now
renamed, AXO-Lenti-PD. Oxford BioMedica is also eligible to receive $55
million upon the achievement of specified development milestones and
$757.5 million upon the achievement of specified regulatory and sales
milestones, with 7% to 10% tiered royalties on net sales of AXO-Lenti-PD.

Axovant Sciences, a clinical-stage biopharmaceutical company dedicated
to advancing treatments for patients with life-altering neurologic
conditions and a member of the Roivant family of companies, will fund
all clinical development costs and manufacturing process development and
scale-up activities for AXO-Lenti-PD. The agreement also allows for both
parties to put in place a clinical and commercial supply agreement for
GMP manufacturing of AXO-Lenti-PD at Oxford BioMedica. Roivant remains
committed to Axovant's success and are excited about the scientific
potential of AXO-Lenti-PD. Axovant will be able to harness the full
Roivant drug development platform to ensure its rapid development.

Axovant Sciences expects to initiate a Phase I/II dose escalation study
of AXO-Lenti-PD in patients with advanced Parkinson's disease by the end
of 2018.

John Dawson, Chief Executive Officer of Oxford BioMedica, said: "We
are delighted to sign this significant agreement which not only
underlines our LentiVector
® enabled platform and
product development strategy but further demonstrates Oxford BioMedica's
ability to build multiple partnerships with leaders in their respective
therapeutic fields.
This agreement with Axovant also successfully
demonstrates Oxford BioMedica's pre-stated strategy to externalise
product development beyond the end of the pre-clinical phase.

"Axovant's expertise and focus on neurological disorders, which
includes Parkinson's disease, makes them an ideal development and
commercialisation partner for this programme. Coupled with strong
support from parent company Roivant, we believe Axovant is perfectly
positioned to bring AXO-Lenti-PD to the market as quickly as possible to
treat patients with Parkinson's, a disease which still has a high unmet
need."

Commenting on the deal, Pavan Cheruvu, Chief Executive Officer of
Axovant Sciences, said:
"Axovant, together with our parent
company Roivant, remains committed to developing innovative treatments
for serious degenerative conditions such as Parkinson's disease, and we
are excited to partner with Oxford BioMedica, a recognised global leader
in cell and gene therapy. OXB-102 is a potentially best-in-class gene
therapy with the potential to transform Parkinson's disease treatment.
This is an area of significant unmet medical need and a major market
opportunity. Advancing this high-quality candidate is a key priority for
the team at Axovant and we very much look forward to working with Oxford
BioMedica."

Conference call for analysts:

A conference call and Q&A session for analysts will be held today at
2.30pm BST / 9.30am ET. The presentation will be available on the
Group's website at www.oxfordbiomedica.co.uk.

Please visit the website approximately 10 minutes before the conference
call to download the presentation slides.

Conference call details:

Participant dial-in: 0800 376 7922
International
dial-in:
 +44 (0) 207 192 8000
Participant code: 1857539

An audio replay file will be made available shortly afterwards via the
Group's website: www.oxfordbiomedica.co.uk

The information contained within this announcement is deemed by the
Company to constitute inside information as stipulated under the Market
Abuse Regulation (EU) No. 596/2014. Upon the publication of this
announcement via the Regulatory Information Service, this inside
information is now considered to be in the public domain.

Notes to editors

About Oxford BioMedica®

Oxford BioMedica (LSE:OXB) is a leading gene and cell therapy group
focused on developing life changing treatments for serious diseases.
Oxford BioMedica and its subsidiaries (the "Group") have built a sector
leading lentiviral vector delivery platform (LentiVector®),
which the Group leverages to develop in vivo and ex vivo
products both in-house and with partners. The Group has created a
valuable proprietary portfolio of gene and cell therapy product
candidates in the areas of oncology, ophthalmology and CNS disorders.
The Group has also entered into a number of partnerships, including with
Novartis, Bioverativ, Sanofi, GSK, Orchard Therapeutics, GC LabCell and
Immune Design, through which it has long-term economic interests in
other potential gene and cell therapy products. Oxford BioMedica is
based across several locations in Oxfordshire, UK and employs more than
320 people. Further information is available at www.oxfordbiomedica.co.uk.

About OXB-102 (AXO-Lenti-PD)

OXB-102, now known as AXO-Lenti-PD, is a lentiviral gene therapy with a
clinically validated mechanism of action for the delivery of the three
genes that encode the enzymes required for endogenous dopamine
synthesis. Unlike current drug treatment, in which efficacy diminishes
with long-term use, AXO-Lenti-PD is designed to provide patient benefit
for multiple years following a single administration. AXO-Lenti-PD is a
second-generation vector construct of OXB-101, also known as ProSavin®,
with greater potency and increased transgenic expression observed in
preclinical studies. Oxford BioMedica has successfully completed a Phase
I/II study for OXB-101, which met its primary endpoint. The results,
which were published in Lancet in 2014, demonstrate favourable
safety and tolerability and a statistically significant improvement of
motor function as measured by the UPDRS Part III score at 6 and 12
months following a one-time administration. This improvement was
sustained in most patients for up to four years despite the
progressively degenerative nature of Parkinson's disease.

About Axovant Sciences

Axovant is a clinical-stage biopharmaceutical company dedicated to
advancing treatments for patients with life-altering neurologic
conditions. Axovant is committed to developing a pipeline of product
candidates, and ultimately commercializing them, by identifying and
developing novel treatments for unmet needs in neurology. For more
information, visit www.axovant.com.

About Roivant Sciences

Roivant Sciences is a global biopharmaceutical company focused on
reducing the time and cost of the drug development process to improve
the lives of patients and their families. Roivant partners with
innovative biopharmaceutical companies and academic institutions to
ensure that important medicines are rapidly delivered to patients.

The Roivant family of companies includes Myovant (women's health and
prostate cancer), Axovant (neurology), Urovant (urology), Enzyvant (rare
diseases), Dermavant (dermatology), Genevant (RNA therapeutics),
Metavant (cardiometabolic diseases), Datavant (healthcare data), and
Arbutus (hepatitis B). Today there are 24 investigational drugs in 11
therapeutic areas being tested in over 50 clinical trials and over 300
nonclinical studies across the Roivant family of companies.

For more information, please visit www.roivant.com

View Comments and Join the Discussion!