Oxford Biomedica signs agreement to acquire ABL Europe from Institut Merieux, consolidating position as a global pure-play CDMO

UK - Oxford Biomedica plc (LSE: OXB) ('Oxford Biomedica' or 'the Company'), a quality and innovation-led cell and gene therapy CDMO, today announces that it has entered into a sale and purchase agreement (the 'Agreement') with TSGH SAS, a subsidiary of Institut Merieux SA, for the acquisition of ABL Europe SAS ('ABL Europe') (the 'Transaction').

This follows the announcement on 20 September 2023, of exclusive negotiations in relation to the proposed acquisition by Oxford Biomedica of ABL Europe, a pure-play European CDMO with specialised expertise in the development and manufacturing of solutions for biotechs and biopharma including viruses for gene therapy, oncolytic viruses and vaccine candidates, in exchange for Oxford Biomedica ordinary shares.

The acquisition of ABL Europe will consolidate Oxford Biomedica's operations into a global pure-play CDMO in the cell and gene therapy space. It will broaden the Company's international presence by establishing a footprint within the European Union through facilities located in Lyon and Strasbourg, France. In addition, the acquisition will increase Oxford Biomedica's capacity in process and analytical development and early-stage manufacturing and address increased client demand for process development.

ABL Europe currently works on more than 10 cell and gene therapy programmes spanning disease areas including more than six different vector types. Forecasted revenues for ABL Europe for the year ending 31 December 2023 are c.EUR15 million.

Institut Merieux has acquired a 3.3 per cent stake in Oxford Biomedica, through purchases in the open market, which it intends to increase to approximately 10.0 per cent in aggregate by the end of Q3 2024.

Completion of the Transaction ('Completion') is currently expected to take place in the first quarter of 2024 subject to the satisfaction and/or waiver of outstanding conditions, including obtaining the necessary regulatory approvals.

Dr. Frank Mathias, Chief Executive Officer of Oxford Biomedica, commented: 'The acquisition of ABL Europe strengthens Oxford Biomedica's operations into a global pure-play CDMO in the cell and gene therapy space. We will now be establishing a significant presence in the EU, while also freeing up Oxford Biomedica's capacity to better serve our growing client demand worldwide. We look forward to realising the operational and commercial synergies of this acquisition in 2024 and beyond.'

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About Oxford Biomedica

Oxford Biomedica (LSE: OXB) is a quality and innovation-led cell and gene therapy CDMO with a mission to enable its clients to deliver life changing therapies to patients around the world.

One of the original pioneers in cell and gene therapy, the Company has more than 25 years of experience in viral vectors; the driving force behind the majority of gene therapies. The Company collaborates with some of the world's most innovative pharmaceutical and biotechnology companies, providing viral vector development and manufacturing expertise in lentivirus, adeno-associated virus (AAV) and adenoviral vectors. Oxford Biomedica's world-class capabilities span from early-stage development to commercialisation. These capabilities are supported by robust quality-assurance systems, analytical methods and depth of regulatory expertise.

Oxford Biomedica, a FTSE4Good constituent, is headquartered in Oxford, UK. It has locations across Oxfordshire, UK and near Boston, MA, US.

About Institut Merieux

As an independent family-owned company, Institut Merieux is dedicated to the fight against infectious diseases and cancers, with a global and long-term vision.

Thanks to five companies - bioMerieux, Transgene, ABL, Merieux NutriSciences and Merieux Equity Partners - Institut Merieux develops complementary approaches to meet today's public health challenges: from prevention of health risks to innovative disease treatment, including the key step of diagnosis.

Present in 45 countries, Institut Merieux employs 22,000 people around the world and achieves a turnover of 4,3 billion euros.

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