OXGENE reports 100% revenue growth
OXGENE™ reports third consecutive year of 100% year on year revenue growth
06 May 2020 OXFORD, UK – OXGENE™, a leading life sciences solutions provider, is pleased to report that it has more than doubled its annual revenue in the financial year just closed, in the third consecutive year of 100% year on year revenue growth. OXGENE uses its expertise in mammalian cell engineering across gene therapy, gene editing and antibody therapeutics to develop novel technology platforms that facilitate the discovery, development and manufacture of new biologics.
OXGENE’s success this year has been fuelled by a combination of strategic licensing agreements and service delivery projects. This year, OXGENE has set the scene for industry wide adoption of their leading AAV and lentiviral transient gene therapy production technologies by licensing to both CMOs and therapeutics manufacturers across the globe. Most recently, they partnered with Fujifilm Diosynth Biotechnologies (FDB), who will use OXGENE’s proprietary AAV production platform, comprising optimised Helper, Rep/Cap and Gene of Interest plasmids, used in combination with a clonal suspension HEK293 cell line, for customers engaged in process development and GMP manufacture of gene therapies at FDB’s College Station, Texas site.
OXGENE have also signed multiple other licensing agreements with companies in the US, Asia and Europe, demonstrating the company’s increasing global reach.
OXGENE have cemented their reputation as market leaders for high throughput CRISPR based engineering through the extension of their partnership with Abcam plc, as well as for the generation of complex disease models with projects for customers including Artios Pharma, who specialise in the development of breakthrough cancer treatments targeting DNA Damage Response pathways.
Maintaining a significant level of investment in R&D has ensured that OXGENE remains future focussed, building a pipeline of innovative new technologies that it aims to bring to market in the first half of the new financial year. This includes its novel mammalian display antibody discovery system, which enables the discovery of antibodies against previously intractable membrane proteins, and transformative solutions for scalable, stable gene therapy manufacture.
The final quarter of OXGENE’s financial year has been marked by their quick response to join the fight against COVID-19. The company has initiated a number of projects to contribute to COVID19 diagnostic, vaccine and therapeutic programmes, including entering a collaboration with The Native Antigen Company to scale up manufacture of COVID19 antigens. The company enters the new financial year fresh from the completion of a successful fundraising round from existing investors, which will be used to expand their current facilities, to support further growth.
Jo Bath, OXGENE’s Chief Operating Officer says, “OXGENE has once again more than doubled its revenue, with less than a 50% increase in headcount. This is testament not only to the hard work and effective management of our team here, but also to the strength of our automation platform, and our focussed, but flexible, approach to business and technology development.”
She continues, “This has been a year of continued growth and transition as we have established ourselves as a leading life sciences solutions provider. We’re extremely proud of everything we’ve accomplished this year, and look forward to introducing more innovative, game changing technologies to market in the year ahead.”