Oxford BioMedica set to earn $100 million in deal with Sanofi takeover target
UK gene cell therapy designer Oxford BioMedica’s (LSE: OXB) shares jumped as much as 11.2% to 12.30 pence this morning after announcing a $100 million collaboration and licence agreement with US hemophilia specialist Bioverativ (Nasdaq: BIVV), which last month agreed to be acquired by French pharma major Sanofi (Euronext: SAN) in a $11.6 billion deal.
The agreement includes a licence to use OXB's LentiVector Enabled technology and access to its industrial-scale manufacturing technology.
Under the terms of the agreement, Oxford BioMedica will receive a $5 million upfront from Bioverativ. Oxford BioMedica is also eligible for various milestone payments, potentially worth in excess of $100 million, and undisclosed royalties on net sales of Bioverativ's lentiviral vector hemophilia products.
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