OXB announced that it currently holds 1,111,924 shares in Orchard Therapeutics (Orchard), which has planned a NASDAQ IPO. These shares were issued to OXB at the time of signing a licensing agreement (November 2016) and later on completing certain milestones.
OXB entered into a strategic alliance with Orchard in November 2016 for the development of gene therapies for ADA-SCID, MPS-IIIA and certain other diseases (Subsequent Indications), pursuant to which OXB was issued 735,000 ordinary shares in Orchard. Additional shares were issued on completing certain milestones, and the company now holds 1,111,924 shares in Orchard (additional shares expected to be issued on achieving further milestones). OXB will also receive a low single-digit royalty on net sales of licensed products until 31 January 2039 (slightly lower in case of compassionate use). Oxford is also required to pay a monthly fee if it uses OXB’s system to generate stable cell lines.