4th Feb 2020 12:10
(Alliance News) - Gene and cell therapy group Oxford Biomedica PLC said Monday it has sold 635,000 American depositary shares in Nasdaq-listed peer Orchard Therapeutics PLC, leading to cash proceeds of USD8.4 million.
Oxford Biomedica now holds 254,872 ADS in Orchard - valued at USD2.8 million as at June 30 - will retain the proceeds from the sale as a deposit to fund future growth opportunities.
Oxford first received equity in Orchard in 2016, as part of the consideration for licences granted under a strategic alliance, and further equity was received in 2018.
Shares in Oxford Biomedica - which is based in Oxford - were up 1.0% at 607.27 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
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