Oxford Biomedica, a leading gene and cell therapy group, has announced an update on the 18 month supply agreement it signed with AstraZeneca UK in September 2020.
Following the successful manufacture of large-scale batches of AstraZeneca’s COVID-19 Vaccine, AstraZeneca has committed to an increase in the number of batches required from Oxford Biomedica in the second half of 2021.
As a result of this, the Group is raising revenue guidance for expected cumulative revenues from AstraZeneca by the end of 2021 from in excess of £50 million to in excess of £100 million, and as a result, expects significant growth in Group Operating EBITDA in the year ending 2021.
As previously guided, Oxford Biomedica does not expect the commitment to AstraZeneca for vaccine production to have any impact on the Group’s current partnerships or ability to secure and support additional new partnerships in the cell and gene therapy field.
Background to the agreement with AstraZeneca
Oxford Biomedica announced an 18 month supply agreement in September 2020 under a three year Master Supply and Development Agreement with AstraZeneca UK for the large-scale commercial manufacture of the adenovirus vector-based COVID-19 vaccine, AZD1222.
John Dawson, Chief Executive Officer of Oxford Biomedica, said: “Everyone involved with production of the COVID-19 Vaccine can be truly proud of their achievement in manufacturing batches of vaccine from our Oxbox manufacturing facility. We are delighted to be a key supplier of the vaccine and the Group is proud to be part of this world-leading vaccination project that is saving many lives.”