OXFORD BIOMEDICA AWARDED £0.5 MILLION FROM THE UK DEPARTMENT OF HEALTHGENE THERAPY RESEARCH PROGRAMME.
Oxford, UK: 29 March 2004 - Oxford BioMedica announced today that the Department
of Health has awarded the Company £0.5 million to develop its proprietary
LentiVector(R) technology for use in the treatment of single gene inherited
disorders. The focus of the work is to be haemophilia A, a condition caused by a
defective gene for Factor VIII, a key component of the mechanism for forming
blood clots.
The LentiVector technology, developed primarily for theCompany's neurotherapy
pipeline, can be used in many areas outside the field of neurobiology. It is
ideally suited to the treatment of single gene disorders where therapy is based
on functional correction of a defective gene in patients. In this situation,
there is a need for long-term, stable and predictable gene activity and this can
be achieved with the LentiVector technology.
Three years ago the Company initiated a programme to develop a product known as
RequinateTM. Requinate comprises a LentiVector gene delivery system carrying a
modified version of the human Factor VIII gene. During this exploratory
programme the Company solved several problems that had been encountered by
others attempting gene therapy for haemophilia. However, since haemophilia falls
outside of the Company's therapeutic focus of cancer and neurotherapy, the
programme has received minimal internal resources. The new money from the
Department of Health will enable the Company to progress the Requinate
haemophilia programme without compromising progress of its cancer and
neurotherapy products. The current market for Factor VIII treatment is in excess
of $1.0 billion.
Commenting on the award, Oxford BioMedica's Chief Executive, Prof. Alan Kingsman
said "We are pleased to see the Department of Health implementing the
government's decision to place gene-based medicine in the mainstream of
healthcare in the UK. We are also delighted to be the only company selected to
contribute to this initiative and to aid in the process of bringing products to
the market that will directly benefit patients with genetic diseases. Oxford
BioMedica is currently evaluating how it can expand the application of the
LentiVector technology for other inherited disorders, in addition to
haemophilia, while retaining its essential focus on bringing its current product
pipeline in cancer and neurotherapy to the market as quickly as possible".
-Ends-
Notes to editors
1. Oxford BioMedica
Oxford BioMedica(LSE: OXB) is a biopharmaceutical company specialising in the
development of novel gene-based therapeutics with a focus on the areas of
oncology and neurotherapy. The Company was established in 1995 as a spin out
from Oxford University, and is listed on the London Stock Exchange.
In addition to its technical expertise in gene delivery, Oxford BioMedica has
in-house clinical, regulatory and manufacturing know-how. The development
pipeline includes two novel anti-cancer products in clinical trials; and two
neurotherapy products in advanced preclinical development for Parkinson's
disease and retinopathy. The Company is underpinned by an extensive preclinical
and research portfolio and about 70 patent families, which represents one of the
broadest patent estates in the field.
The Company has a staff of circa 65 split between its main facilities in Oxford
and its wholly owned subsidiary, BioMedica Inc, in San Diego, California. Oxford
BioMedica has corporate collaborations with Wyeth,Intervet, Merck & Co,
Amersham and Kiadis. |
