Oxford Biomedica Signs 3-Year Commercial, Clinical Supply Agreement with Novartis

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Oxford Biomedica PLC (OXB.LN) said Thursday it has signed a three-year agreement with Novartis AG (NOVN.EB) for the commercial and clinical supply of lentiviral vectors, a deal that could bring $100 million to Oxford over the next three years.

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The gene and cell therapy group said the agreement can be extended to five years.

Lentiviral vectors are a type of retrovirus that can infect both dividing and nondividing cells because their preintegration complex can get through the intact membrane of the nucleus of the target cell.

Chief Executive John Dawson said: "The new deal with Novartis will strengthen the group's balance sheet immediately and will support the group's continued growth over the next three years."

Shares at 0725 GMT down 0.1 pence, or 1%, at 9.75 pence.

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

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(END) Dow Jones Newswires

July 06, 2017 03:47 ET (07:47 GMT)