Oxford Biomedica reported a 72% increase in gross income to £67.9 million (2017: £39.4m) in its preliminary results for the year ended 31 December 2018. Operating EBITDA stood at £13.4m (2017: -£1.9m).
Oxford Biomedica’s strategy and expertise in cell and gene manufacturing has allowed it to quickly capatilise on the significant expansion in global demand for these therapies. Historically reliant on revenue from its partnership with Novartis, new partnerships in FY18 notably with Bioverativ and Axovant continue to diversify OXB’s revenue stream. Its first full year operating EBITDA profit (£13.4m) and net profit (£7.5m) in its history is a positive sign of things to come, however, top-line growth is likely to be the near term focus as evidenced by the ongoing construction of new manufacturing facilities.
John Dawson, Chief Executive Officer of Oxford Biomedica, said: “In the past year, alongside landmark regulatory approvals and launches in the sector, we have seen our strategy delivering with significant revenue-generating deals for both our platform and our products, and we continue to scale our capacity to meet the expected demand from future growth”