Oxford BioMed licenses Nobel RNAi technology

UK gene medicine firm Oxford BioMedica has licensed RNA interference technology invented by Nobel Prize-winning scientists Andrew Fire and Craig Mello from the Carnegie Institution of Washington and the University of Massachusetts Medical School, both based in the USA. The rights are exclusively for RNAi gene silencing using lentiviral vectors for human gene therapy applications, including Oxford BioMedica's proprietary LentiVector system.

Under the terms of the deal, the UK firm make pay an upfront payment, as well as milestones and royalties on sales. These rights will run concurrently with those of the existing licensees of the RNAi technology. Further details were not disclosed.

In a separate agreement, both research centers also agreed to subscribe for a total of 2,369,818 ordinary shares of 1 pence each at L0.24 per share. Application will be made to the UK Listing Authority for newly issued ordinary shares in Oxford BioMedica to be admitted to the Official List of the UKLA and to the London Stock Exchange. The shares are expected to commence trading on January 10.