13th Dec 2021 10:03
(Alliance News) - Oxford BioMedica PLC on Monday confirmed that it has signed a new licence and supply agreement with the US's Arcellx, while also extending its commercial supply contract with Novartis AG.
The new contract grants Maryland-based biotechnology firm Arcellx a non-exclusive licence to Oxford Biomedica's LentiVector platform for its application in select CAR-T programmes and puts in place a three-year clinical supply agreement.
Under the terms of the agreement, Oxford Biomedica will receive payments related to the development and manufacturing of lentiviral vectors for use in clinical trials with the deal also allowing for payments to the group for the manufacture and supply of lentiviral vectors for commercial use.
Separately, Oxford Biomedica extended its commercial supply agreement with Switzerland's Novartis for the manufacture of lentiviral vectors for several Novartis CAR-T products.
Under the terms of the updated agreement, the companies have extended the terms of the commercial supply agreement to the end of 2028, and Oxford Biomedica has regained the rights to its LentiVector platform relating to three CAR-T targets. The group now has the right to work with potential pharmaceutical and biotech partners other than Novartis across all CAR-T targets.
In addition, under the terms of the new deal Novartis has been granted additional flexibility in the ordering of GMP batches but will no longer have a minimum order commitment. This is expected to result in a mid-single digit million pound reduction in previously guided financial year 2021 revenue.
Oxford Biomedica Chief Executive Officer John Dawson commented: "We have enjoyed a strategic partnership with Novartis since 2014 and are excited to announce this updated supply agreement which provides both companies with greater flexibility in good manufacturing practice supply of vector for Kymriah and other pipeline products and allows us to react to the rapidly growing dynamics of the commercial CAR-T sector."
Shares in Oxford BioMedica were trading down 1.3% at 1,188.00 pence each in London on Monday morning.
By Will Paige; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Oxford Biomedica