Oxford Biomedica (OXB) has announced the expansion of its commercial supply agreement with Novartis by five years. While expected, this removes any uncertainty around the future of the partnership and is a validation of OXB’s investment in new manufacturing facilities. Novartis is now committed to paying OXB a minimum of $75m (for vector batches) in manufacturing revenue over the five-year extension. Additionally, OXB will be paid a mid-single digit £m facility reservation fee. As
19 Dec 2019
Oxford Biomedica - Novartis extends commercial supply agreement
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Oxford Biomedica - Novartis extends commercial supply agreement
Oxford BioMedica plc (OXB:LON) | 213 0 0.0% | Mkt Cap: 212.8m
- Published:
19 Dec 2019 -
Author:
Dr Daniel Wilkinson -
Pages:
3
Oxford Biomedica (OXB) has announced the expansion of its commercial supply agreement with Novartis by five years. While expected, this removes any uncertainty around the future of the partnership and is a validation of OXB’s investment in new manufacturing facilities. Novartis is now committed to paying OXB a minimum of $75m (for vector batches) in manufacturing revenue over the five-year extension. Additionally, OXB will be paid a mid-single digit £m facility reservation fee. As