Oxford BioMedica PLC Licenses Its Gene Delivery Technology To VIRxSYS Corporation

Oxford BioMedica (LSE: OXB), the leading gene therapy company, and VIRxSYS Corporation (Gaithersburg, Maryland USA) today announce a licence agreement for Oxford BioMedica’s VSV-G viral envelope technology for gene delivery. The agreement provides VIRxSYS with rights to utilise this technology in the production process of VIRxSYS’s anti-HIV/AIDS product VRX496 which is currently in Phase II trials. Under the agreement, Oxford BioMedica receives an upfront licence fee and annual maintenance payments. In addition, Oxford BioMedica will receive payments on the achievement of clinical and regulatory milestones by VIRxSYS and product royalties. Further financial details were not disclosed.