10th Oct 2014 07:40
LONDON (Alliance News) - Oxford Biomedica PLC said Friday that it has signed further agreements with Novartis International AG, including a deal for its LentiVector gene delivery platform.
Novartis will pay USD14 million upfront, including a USD4.3 million equity subscription for 70.8 million shares at 3.8 pence, for a non-exclusive worldwide development and commercialisation licence under the LentiVector platform. The deal has an initial term of three years, and under this contract Oxford Biomedica will manufacture lentiviral vectors expressing the CTL019/CART-019 cells.
Additionally, Oxford Biomedica has granted Novartis an exclusive licence for the worldwide development and commercialisation of all Chimeric Antigen Receptor T (CART) cell products that arise from the collaboration.
Oxford Biomedica is eligible to receive up to USD90 million from Novartis over the next three years under the deal, and will also receive royalties on potential future sales of the products from the agreement.
"We are delighted to sign a second agreement with Novartis. Oxford BioMedica now has a breadth of leading capabilities in gene and cell therapy under-pinned by a dominant LentiVector® patent estate (licensed to multiple companies), and a state-of-the-art GMP manufacturing facility," said Chief Executive John Dawson in a statement. "Today's commitment from Novartis, including their equity investment, strongly endorses this."
Shares in Oxford Biomedica are trading up 16.2% at 4.56 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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