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Oxford BioMedica PLC (OXB.L) Interim Results for the Six Months Ended 30 June 2011


8/31/2011 10:33:07 AM

Oxford, UK – 31 August 2011: Oxford BioMedica plc (“Oxford BioMedica” or “the Company”) (LSE: OXB), the leading gene-based biopharmaceutical company, today announces its unaudited interim results for the six months ended 30 June 2011. Year to date highlights include:

OPERATIONAL HIGHLIGHTS:

LentiVector® platform

ProSavin®: Parkinson’s disease

- Positive six-month data from third patient cohort of on-going Phase I/II trial presented at ASGCT 14th Annual Meeting demonstrating 43% average motor function improvement with a 2x dose

- Improvements across patient diary measures further underline potential for ProSavin® to address the motor symptoms of Parkinson’s disease

Ocular gene therapies: partnered with Sanofi

- RetinoStat® Phase I study initiated for treatment of “wet” age-related macular degeneration

- StarGen™ Phase I/IIa study initiated in the US for treatment of Stargardt disease

- US RAC approval received for UshStat® Phase I/IIa study

Manufacturing

- Acquisition of Oxford manufacturing facility for £1.9 million completed in February 2011, with re-commissioning process on-track

5T4 tumour antigen platform

TroVax® (MVA-5T4): therapeutic cancer vaccine

- Further TRIST Phase III analyses published in Cancer Immunology, Immunotherapy identifying specific immune response surrogate algorithm

- Collaborators at Cardiff University and Velindre Cancer Centre, Wales received MHRA and GTAC approval for Phase II study in mesothelioma

Targeted antibody therapy: for cancer

- Collaboration with Pfizer broadened to include in vitro diagnostic use of 5T4 antibodies

- New research collaboration with ImaginAb, Inc. to engineer an in vivo diagnostic imaging agent

FINANCIAL HIGHLIGHTS1:

- Fundraising of £20.0 million before expenses, completed on 10 January 2011

- Revenue of £5.0 million (H1 2010 £5.3 million)

- Research & Development costs of £11.8 million, pre-exceptional £8.7 million (H1 2010 £8.0 million)

- Net loss of £8.1 million, pre-exceptional £5.0 million (H1 2010 £2.9 million)

- Net cash burn2 of £10.7 million (H1 2010: £9.4 million)

- Net cash3 of £20.2 million (H1 2010: £16.3 million)

- Financial resources sufficient to fund operations into Q1 2013

POST PERIOD END HIGHLIGHTS:

- Collaborators at Cardiff University received MHRA approval for TroVax® Phase II study in colorectal cancer in July 2011

- StarGen™ CTA approval received in July 2011 for second clinical site in France

- Positive interim review of fourth ProSavin® patient cohort by DMC in August 2011 with favourable safety profile at the highest (5x) dose

John Dawson, Chief Executive Officer at Oxford BioMedica, said: “We have made good progress across our core technology platforms during the period. In particular, the ProSavin® Phase I/II data set is very promising and we have broadened our clinical development pipeline from two to four programmes with lead ocular candidates RetinoStat® and StarGen™, partnered with Sanofi, entering Phase I/II development. With tight fiscal controls in place we have sufficient financial resources to deliver our clinical results and reach our milestone objectives throughout 2012. We remain committed to building a successful biopharmaceutical company founded on the development and commercialisation of novel gene-based medicines.”

An analyst briefing will be held at 11:00am BST on Wednesday 31 August 2011 at the offices of M:Communications, CityPoint, 1 Ropemaker Street, London, EC2Y 9AW.

Webcast: Simultaneously to the analyst briefing at 11:00am BST, there will be a live audio webcast of the presentation. To connect to the webcast facility, please visit the Company's website: www.oxfordbiomedica.co.uk approximately 10 minutes before the start of the briefing. A replay will be made available shortly after the presentation.

For further information, please contact:

Oxford BioMedica plc:

John Dawson, Chief Executive Officer

Andrew Wood, Chief Financial Officer

Lara Mott, Head of Corporate Communications

Tel: +44 (0)1865 783 000

Singer Capital Markets Limited:

Shaun Dobson/Claes Spång

Tel: +44 (0)20 3205 7500

Media/Financial Enquiries:

Mary Clark/Emma Thompson/Claire Dickinson M:Communications

Tel: +44 (0)20 7920 2342

Disclaimer

This press release contains "forward-looking statements", including statements about the discovery, development and commercialisation of products. Various risks may cause Oxford BioMedica's actual results to differ materially from those expressed or implied by the forward-looking statements, including adverse results in clinical development programmes; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialise products and services; difficulties or delays in obtaining regulatory approvals and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialisation activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. Oxford BioMedica disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

1. Oxford BioMedica

Oxford BioMedica plc (LSE: OXB) is a biopharmaceutical company developing innovative gene-based medicines and therapeutic vaccines that aim to improve the lives of patients with high unmet medical needs. The Company’s technology platform includes a highly efficient LentiVector® gene delivery system, which has specific advantages for targeting diseases of the central nervous system and the eye; and a unique tumour antigen (5T4), which is an ideal target for anti-cancer therapy. Through in-house and collaborative research, Oxford BioMedica has a broad pipeline with current partners and licensees including Sanofi, Pfizer, GlaxoSmithKline, MolMed, Sigma-Aldrich, Biogen Idec, VIRxSYS, Emergent BioSolutions and ImaginAb. Further information is available at www.oxfordbiomedica.co.uk.



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