Sanofi gives notice it is termination deal with Oxford Biomedica
UK-based Oxford Biomedica (LSE: OXB), a gene and cell therapy group, announced today that French pharma major Sanofi (Euronext: SAN) has given notice that it intends to terminate the collaboration and license agreement for process development and manufacturing of lentiviral vectors to treat hemophilia.
News of the decision, made via a notification to the London Stock Exchange, pushed the UK firm’s shares down almost 6% to 961.95 pence by mid-afternoon trading today.
Oxford Biomedica had originally signed the $100 million collaboration and license agreement with Bioverativ, which was acquired by Sanofi in February 2018 in an $11.6 billion deal.
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