Boehringer Ingelheim licenses Oxford Biomedica's lentiviral vector technology
Oxford Biomedica
419.50p
12:49 23/12/24
Gene and cell therapy firm Oxford Biomedica said on Tuesday that pharmaceutical giant Boehringer Ingelheim had exercised its option to license its lentiviral vector technology to manufacture, register and commercialise a treatment for cystic fibrosis.
Financial Services
17,508.82
13:24 23/12/24
FTSE 250
20,423.33
13:25 23/12/24
FTSE 350
4,470.78
13:25 23/12/24
FTSE All-Share
4,428.43
13:25 23/12/24
IP Group
52.70p
13:22 23/12/24
Pharmaceuticals & Biotechnology
20,018.20
13:25 23/12/24
Oxford Biomedica stated that under the terms of the option and license agreement, Boehringer Ingelheim will pay it an option exercise fee of £3.5m, while also being entitled to further development, regulatory and sales milestones of up to an additional £27.5m and a "tiered low single-digit royalty" on net sales of the cystic fibrosis gene therapy product.
Boehringer's move follows on from the striking of a development and supply agreement between the pair in April, which covered the clinical manufacture of various types of viral vector-based products.
Elsewhere, the German pharmaceutical group also exercised an option to license intellectual property and know-how from IP Group and the UK Cystic Fibrosis Gene Therapy Consortium in relation to the same lentiviral vector-based product candidate.
As of 0915 BST, Oxford Biomedica shares had inched ahead 0.33% to 1,494.92p.