Oxford Biomedica Regulatory News (OXB)

7 Jan 2008 07:00

Oxford Biomedica PLC07 January 2008 For immediate release 7 January 2008 OXFORD BIOMEDICA SECURES EXCLUSIVE LICENCE TO KEY INTELLECTUAL PROPERTY FOR RNA INTERFERENCE GENE SILENCING USING LENTIVECTOR(R) TECHNOLOGY Oxford, UK: 7 January 2008: Oxford BioMedica (LSE: OXB), a leading gene therapycompany, announced today that it has signed a license agreement with theCarnegie Institution of Washington and the University of Massachusetts MedicalSchool that grants the Company rights to key RNA interference (RNAi) technologyinvented by Nobel Prize-winning scientists Andrew Z. Fire, PhD, and Craig C.Mello, PhD. The rights granted are exclusive for RNAi gene silencing usinglentiviral vector technology for human gene therapy applications, includingOxford BioMedica's proprietary LentiVector system. Under the terms of thelicense agreement Oxford BioMedica will pay an upfront payment, milestonepayments and royalties on sales. These rights will run concurrently with therights of the existing licensees of the RNAi technology. Further details werenot disclosed. The concept of gene silencing in mammalian cells using short pieces of RNA wasfirst published by Fire and Mello and colleagues in 1998 (see Nature volume 391,February 19, 1998). For this ground-breaking work they were awarded the NobelPrize in Physiology or Medicine in 2006. The discovery of RNAi has created a newparadigm of drug discovery and potential therapeutics. Lentiviral vectors arealready used extensively in drug discovery research for delivery of RNAi to arange of different cell types. Oxford BioMedica has licensed its LentiVectorpatents for research use in this area to many companies together with itscorporate partner Sigma Aldrich. In a separate agreement, also announced today, the Carnegie Institution ofWashington and the University of Massachusetts have agreed to subscribe for atotal of 2,369,818 ordinary shares of 1p each at £0.24 per share. Applicationwill be made to the United Kingdom Listing Authority ('UKLA') for the newlyissued ordinary shares in Oxford BioMedica to be admitted to the Official Listof the UKLA and to the London Stock Exchange plc for admission to trading on itsmarket for listed securities. The shares are expected to commence trading on 10January 2008. Professor Alan Kingsman, Chief Executive of Oxford BioMedica, commented: "Thereis growing acceptance that to develop RNAi therapeutics, an effective deliverysystem is essential and increasingly lentiviral vectors are becoming the systemof choice for this purpose. Oxford BioMedica, with its broad LentiVector patentportfolio and its expertise in developing LentiVector-based products, istherefore well positioned to develop a range of novel RNAi therapeutics eitherindependently or in collaboration with other companies." James P. McNamara, Ph.D., Executive Director of the Office of TechnologyManagement of the University of Massachusetts Medical School commented: "As theMedical School looks toward the convergence of RNAi, gene therapy, and cellulartherapy, including stem cells as medical treatments, the potential drugdevelopment opportunities presented by Oxford BioMedica's lentiviral vectordelivery technology is intriguing to us. We have structured these licenseagreements to help the company pursue novel applications of RNA interferencebased on their established broad IP in the lentiviral vector delivery space. Ourhope is to see the further advancement of the RNAi field toward novel therapiesin the public interest." -Ends- For further information, please contact: Oxford BioMedica plc: Tel: +44 (0)1865 783 000Professor Alan Kingsman, Chief Executive JPMorgan Cazenove Limited Tel: +44 (0)20 7588 2828James Mitford/Gina Gibson City/Financial Enquiries: Tel: +44 (0)20 7466 5000Lisa Baderoon/ Mark Court/ Mary-Jane Johnson BuchananCommunications Scientific/Trade Press Enquiries: Tel: +44 (0)20 7457 2020Gemma Price/ Holly Griffiths/ Katja StoutCollege Hill Life Sciences Notes to editors 1. Oxford BioMedica Oxford BioMedica (LSE: OXB) is a biopharmaceutical company specialising in thedevelopment and commercialisation of novel therapeutic vaccines and gene-basedtherapies with a focus on oncology and neurotherapy. The Company was establishedin 1995 as a spin-out from Oxford University, and is listed on the London StockExchange. The Company has a platform of gene delivery technologies, which are based onhighly engineered viral systems. Oxford BioMedica also has in-house clinical,regulatory and manufacturing know-how. In oncology, the lead product candidateis TroVax(R), an immunotherapy for multiple solid cancers, which is licensed tosanofi-aventis for global development and commercialisation. A Phase III trialof TroVax in renal cancer is ongoing and two Phase III trials in colorectalcancer are planned. Oxford BioMedica has two other anti-cancer productcandidates in Phase II development for melanoma and pancreatic cancerrespectively. In neurotherapy, the Company has initiated a Phase I/II trial ofits gene-based treatment for Parkinson's disease, ProSavin(R). The neurotherapypipeline also includes preclinical gene-based therapeutics for vision loss,motor neuron disease and nerve repair. The Company is underpinned by over 80 patent families, which represent one ofthe broadest patent estates in the field. The Company has a staff ofapproximately 80 split between its main facilities in Oxford and its whollyowned subsidiary, BioMedica Inc, in San Diego, California. Corporate partnersinclude sanofi-aventis for TroVax and Wyeth for an anti-cancer targeted antibodytherapy. The Company also has collaborations with Sigma-Aldrich, MolMed andVirxsys. Technology licensees include Biogen Idec, Merck & Co, GlaxoSmithKlineand Pfizer. Further information is available at www.oxfordbiomedica.co.uk 2. Carnegie Institution of Washington The Carnegie Institution (www.CIW.edu) has been a pioneering force in basicscientific research since 1902. It is a private, nonprofit organization with sixresearch departments throughout the U.S. Carnegie scientists are leaders inplant biology, developmental biology, astronomy, materials science, globalecology, and Earth and planetary science. 3. University of Massachusetts The University of Massachusetts Medical School, one of the fastest growingacademic health centers in the country, has built a reputation as a world-classresearch institution, consistently producing noteworthy advances in clinical andbasic research. The Medical School attracts more than $176 million in researchfunding annually, 80 percent of which comes from federal funding sources. UMMSis the academic partner of UMass Memorial Health Care, the largest health careprovider in Central Massachusetts. For more information, visit www.umassmed.edu. This information is provided by RNS The company news service from the London Stock Exchange