Oxford Biomedica reduces losses 13%
UK biopharmaceutical company Oxford BioMedica says its revenue for 2005 reached L800,000 ($1.4 million), up 64% on the amount it earned in 2004. The firm also reported that its losses for the year, which were L9.1 million, represent a 13% reduction on the previous financial period.
The company says that the year saw excellent progress in its R&D pipeline with positive initial data from Phase II trials of its cancer vaccine TroVax, and of its gene-based cancer therapeutic MetXia. Additionally, the firm says that its targeted antibody cancer therapy development program, which it is carrying out with US major Wyeth, has produced promising preclinical data.
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