Oxford Genetics Secures £7.5 Million Investment
Company to accelerate sales, marketing and expansion of its operations.
Oxford Genetics, a leader in innovative synthetic biology-based technologies for biologics discovery, development and delivery, has announced a £7.5 million investment into its operations in the US and the UK by Mercia Technologies PLC, an existing investor, and Invesco Perpetual.
This investment will fund a new office in Boston, US and a 6,000-sq. ft. extension of its UK facility at the Oxford Science Park by November 2017.
The extension will include state-of-the-art cell line engineering capabilities, viral vector production and purification suites, high-throughput robotic screening systems and process development facilities.
Ryan Cawood, CEO of Oxford Genetics, said: “The future is looking genuinely exciting for Oxford Genetics.
Over the last few years there has been a huge number of promising steps in the complex biologics field towards delivering real patient benefits and Oxford Genetics is pleased to be working with so many of the companies tackling some of medicines most significant challenges.
This latest investment will allow us to further strengthen our solid foundations of innovative technologies and operational excellence and deliver on our mission to improve the overall efficiency of the biotherapeutic industry through the application of synthetic biology.”
The announcement follows a successful year for Oxford Genetics with a rapidly increasing number of clients, key appointments, and market momentum in the growth areas of cell and gene therapy.
It has also signed a number of licenses for use of its technologies, including two collaborative partnerships with gene therapy companies designed to develop its IP offering further, as well as filing five new patents intended to improve the discovery, development or delivery of biotherapeutics.
Mark Payton, Chief Executive Officer at Mercia and board director of Oxford Genetics, said: "This sector is growing rapidly, driven by pharma and biotech companies' relentless drive for new therapeutics.
The commercial validity of the business has been recently supported by a string of technology licence agreements.
This syndicated investment alongside Invesco reflects our confidence in Oxford Genetics' strong position and its ability to deliver shareholder value in the medium term."
The investment into Oxford Genetics’ offering is exceptionally well-timed with the rapidly increasing demand for solutions that improve the discovery and development of biotherapeutics driving the need for expert technology providers to support and scale companies’ research efforts.