The expanded collaboration with Immune Design is encouraging, although financial terms are undisclosed, and the group is confident of announcing additional deals during the year. We have updated our forecasts and valuation this morning following Oxford BioMedica announcing an £8.1m placing in February. We have downgraded our operating forecasts in 2015, 2016 and 2017 by 36%, 84% and 126% respectively. Oxford BioMedica only has sufficient cash resources into H2 2016 and will need to raise further ....
