Britain's Oxford Biomedica enters into deal to expand viral vector offerings

Reuters
·1 min read
British Prime Minister Boris Johnson visits Oxford Biomedica

(Reuters) - Britain's Oxford Biomedica Plc said on Friday it would form a viral vector manufacturing business with U.S.-based Homology Medicines, and would acquire an 80% stake in the new firm valued at about 175 million pounds ($234 million) including debt.

The London-listed cell and gene therapy firm said the venture would broaden its offerings with Homology's expertise in adeno-associated virus manufacturing. Oxford Biomedica said it would fund the deal partly through an $85 million loan.

Oxford Biomedica, also a contract manufacturer for AstraZeneca and Oxford University's COVID-19 vaccine, added that it was in talks with the Anglo-Swedish drugmaker over an extension to their current supply agreement.

Oxford Biomedica and AstraZeneca had signed an 18-month deal for supply of the coronavirus vaccine in September 2020.

Oxford Biomedica on Friday also named its Chair Roch Doliveux as interim chief executive officer, days after John Dawson said he would step down after 13 years at the helm.

($1 = 0.7467 pounds)

(Reporting by Muhammed Husain in Bengaluru)

  • Up next
  • Up next
  • Up next
  • Up next

Latest Stories

  • Haiti's death toll rises as international support lags, UN report says

    More than 2,500 people were killed or injured in gang violence in Haiti from January through March, up 53% from the last three months of 2023, the United Nations Integrated Office in Haiti (BINUH) said on Friday. At least 590 were killed during police operations, BINUH said in a report. Several were apparently not involved in gang violence, some had impaired mobility, and at least 141 were killed by vigilante justice groups.

  • Iowa lawmakers approve bill just in time to increase compensation for Boy Scout abuse victims

    Iowa men who were victims of child sexual molestation while they were in the Boy Scouts of America could get higher legal compensation under a bill approved Friday by lawmakers and expected to be signed by the governor, just before the deadline to do so will expire. The retroactive measure, which would waive the statute of limitations for victims filing a civil claim as part of the Boy Scouts of America bankruptcy settlement, would take effect after Gov. Kim Reynolds signs it. The Boy Scouts filed for bankruptcy protection in 2020 as it faced hundreds of lawsuits filed by men alleging they had been sexually abused as children by their Scout leaders and volunteers.

  • Paris Hilton shares first photographs of five-month-old daughter

    The US star said becoming a mother inspired a new ‘deeply personal song’ with Sia, titled Fame Won’t Love You.

  • Beyond Paradise airs character’s lie in new episode

    Tonight's episode of Beyond Paradise saw DS Esther Williams reveal a heartbreaking lie she told daughter Zoe about her father.

  • The best restaurant stocks enduring through inflation

    Consumers are becoming increasingly cost-conscious amid inflation persisting through early 2024. Stephens Research Analyst Jim Salera joins Market Domination to discuss which restaurant stocks are best positioned to navigate the challenging environment. Salera finds that at the higher end of the consumer spectrum, spending patterns are "pushing forward" amid inflationary pressures, with little change in consumer behavior. However, for consumers at the lower end of the spectrum, he observes that they are being "much more deliberate" about their spending. For investors evaluating restaurant stocks, Salera emphasizes the importance of identifying "which restaurants are differentiated from the crowd." He highlights names like Chipotle (CMG) and Wingstop (WING), which have demonstrated "very strong traffic trends," as examples of differentiated offerings. With the risk of consumers potentially "trading out" for better value options, Salera stresses that "it's very important [for restaurants] to have a unique value proposition that the consumer can really identify with to retain that traffic." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith

  • Police under fire after threat to arrest ‘openly Jewish’ man near pro-Palestinian protest

    Metropolitan Police officers threatened to arrest an “openly Jewish” man for walking in central London during a pro-Palestinian protest.

  • Why Rishi Sunak's Electoral Mountain Has Become An Impossible Climb

    Tory MPs believe the prime minister is "trapped" with no way out.

  • George Clooney film inspiring South Florida’s rowing community

    A movie directed by Academy Award-winning actor and filmmaker George Clooney is inspiring rowers in South Florida to reach new heights.

  • MoD accused of ‘go-slow’ with half of £900m Ukraine fund unused

    Delays mean just £404m of the money donated by nine countries has been committed or spent

  • Man in Critical Condition After Setting Self on Fire Outside Trump Trial

    Police said a man threw pamphlets into the air before setting himself on fire outside the Manhattan courthouse where Donald Trump’s hush money trial is taking place. Photo: Angela Weiss/AFP/Getty

  • King’s College London bars staff from promotion unless they support pro-trans diversity policy

    A major London university may have broken equality law by barring staff from promotion unless they supported its pro-trans diversity policy.

  • Why We Made Big Moves In Exposure Last Week

    You use the feedback from your trades and market indexes like the Nasdaq to determine if you go heavier or lighter. As stocks got extended in this rally, we were naturally decreasing exposure on SwingTrader. The 21-day line has been providing a level of support for QQQ as well as the Nasdaq composite since the rally started in Nov. 1.

  • Prayer ban head criticises Braverman for using school as ‘political football’

    The Conservative MP co-founded the school alongside current headteacher Katherine Birbalsingh.

  • How cannabis stocks can win big with new policy changes

    Cannabis legalization has been an issue on many ballots in the past decade, with several states opening up to recreational use legalization. US Vice President Kamala Harris called on the federal government to move "as quickly as possible" in terms of reclassifying cannabis from its current Schedule I classification. If any efforts are successful in doing so, what would the cannabis market look like and who would stand to benefit the most? Poseidon Co-Founder & Managing Partner Emily Paxhia joins Market Domination to give insight into potential new legislation around cannabis and what investors and consumers alike can expect moving forward. Paxhia outlines the current efforts to change cannabis legislation in the US: "Importantly with cannabis legalization, we have several efforts running down the field. There is the rescheduling efforts, and we are hoping to see something come out of that soon. There's also the continued and loud discussions around banking reform in the legislative branch but we've also introduced a path through the judicial branch working with Boies Schiller Flexner [LLP] to challenge the 2004-2005 case on Raich Vs Gonzales which about the Commerce Clause."She continues by affirming: "Interestingly things that are catalytic that change the volume of capital flowing into the industry are very top down. We hear from investors that are paying attention to these federal reform signals, but what we are also really interested in is the state-to-state catalysts that really actually open up the markets and improve the business fundamentals." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino

  • Nike to lay off 740 employees at Oregon headquarters

    The "second phase of impacts" would begin by June 28 at its headquarters, Michele Adams, Nike's vice president for people solutions, said in a legally mandated notice to state authorities. Nike had in December announced a cost savings plan for $2 billion over the next three years, and in February said it would cut about 2% of its total workforce, or more than 1,600 roles. It had about 83,700 employees as of May 31, 2023.

  • The 30 best Walmart deals to shop this weekend — save up to 80% on outdoor gear, gardening supplies, tech and more

    Some major deals on board: a Mother's Day-ready digital picture frame for $30 off, a cordless 6-in-1 stick vac for just $90, and a Chromebook laptop for under $150.

  • Cloudy sky limits view of possible aurora across northern US

    Solar activity is triggering a strong geomagnetic storm, which could make the northern lights visible over parts of Massachusetts and New England if only the cloud cover would go away.

  • Fun things to do across the Palm Beaches and Treasure Coast this weekend

    Fun things to do across the Palm Beaches and Treasure Coast this weekend

  • Disability expert resigns from federal advisory group over benefit program

    OTTAWA — One of Canada's leading disability scholars is quitting a federal advisory board, saying the government failed to properly fund the disability benefit. Michael Prince, a professor of social policy at the University of Victoria, says he's deeply disappointed with the Canada Disability Benefit. He's resigning from Disabilities Minister Kamal Khera's advisory group effective immediately, saying he has concluded his voice is no longer making a difference. Prince says the amount of funding f

  • Togo lawmakers give final approval to new constitution amid opposition fears

    Togo lawmakers on Friday gave final approval to a constitutional reform that switches to a parliamentary system that triggered criticism from opposition parties who say it allows President Faure Gnassingbe to keep a grip on power. The approval came days before April 29 legislative elections in Togo, where the opposition dismissed the reform as a "constitutional coup" for creating a new prime minister-style post they say will allow the Togolese leader to avoid term limits to stay in office.Togo's