Oxford Biomedica

Investment summary

Oxford Biomedica (OXB) is a global leader in lentiviral development and manufacturing. It is expanding its manufacturing facilities through Oxbox, a 84,000 sq ft state-of-the-art bioprocessing facility, significantly increasing its production capacity to match increasing demand and to continue growing its platform revenues. In the near term, revenues will continue to be driven by Novartis and AstraZeneca as rollout of Kymriah and the COVID-19 vaccine continues, as well as new partner programmes such as those from Bristol Myers Squibb (BMS). OXB has several established development and manufacturing partnerships including Novartis, Juno Therapeutics (BMS), Orchard Therapeutics, Boehringer Ingelheim, Santen, Beam Therapeutics and PhoreMost. OXB also has a supply agreement with AstraZeneca for the large-scale commercial manufacture of the adenovirus vector-based COVID-19 vaccine Vaxzevria (AZD1222). Our forecasts are under review.