Oxford BioMedica share price rises on $100m gene therapy deal with Bioverativ

 
Lynsey Barber
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Oxford BioMedica is working on gene therapy treatments (Source: Getty)

The share price of Oxford BioMedica shot up as much as 10 per cent on Thursday morning on the back of a new deal that could be worth more than $100m (£71m).

The biotech company has inked a licensing deal with Bioverative to develop gene therapy treatment for haemophilia, with $5m upfront and future payments, including royalties.

"Bioverativ’s investment in haemophilia gene therapy underlines the potential of lentiviral vectors for use for in vivo gene therapy," said Oxford BioMedica's chief executive John Dawson.

"This new deal, potentially worth in excess of $100m, demonstrates Oxford BioMedica’s strategy of building multiple partnerships with leaders in their therapeutic categories and will support the Group’s continued growth. Oxford BioMedica is recognised as a world leader in the field of development and manufacturing of lentiviral vectors and we are delighted to be supporting Bioverativ in the development of gene therapy products to treat haemophilia."

The firm - an Oxford University spin out - last year inked a similar deal with pharma giant Novartis for leukaemia treatment.

Bioverativ is being acquired by another pharma giant - Sanofi - in a multibillion dollar deal.

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