Oxford BioDynamics (LON:OBD), a biotechnology company focused on the discovery and development of epigenetic biomarkers based on regulatory genome architecture, for use within the pharmaceutical and biotechnology industry, has announced its final results for the year ended 30 September 2019.
Commenting on the results, Christian Hoyer Millar, Chief Executive Officer of Oxford BioDynamics, said:
“2019 has seen OBD deliver on several important achievements. Not only have we signed additional collaboration agreements, but we have also seen EpiSwitch™ being used in high profile UK and US clinical trials. We believe there is significant potential for EpiSwitch™ biomarkers to benefit a range of diseases, but we have been particularly pleased with the progress we have announced in IO. We have continued to gain traction in this important, growing market demonstrating the value we add to the healthcare system.
We have invested significantly in strengthening our management team and Board, enhancing our presence in the US. Furthermore, the expansion of our ISO-certified R&D facilities in the UK and Malaysia has been completed, allowing us to further scale the use of our EpiSwitch™ technology.
We are well placed to take advantage of the opportunities that this growing sector is offering into 2020 and beyond, and we look forward to updating the market on our progress.”
Corporate and operational highlights
- Continued development of EpiSwitch™ biomarkers for use in immuno-oncology (IO), including signing of fifth commercial collaboration.
- Participation in amyotrophic lateral sclerosis (ALS) biomarker study sponsored by Mitsubishi Tanabe Pharma America; first patient enrolled post period end.
- Joined trial with Imperial College London evaluating novel methods of screening for prostate cancer.
- Collaborated with Casa Sollievo della Sofferenza to develop a panel of epigenetic biomarkers for the diagnosis of Autistic Spectrum Disorder.
- Study identifying epigenetic changes for monitoring disease progression in Huntington’s disease published in Faculty of 1000 Research.
- Strengthened the OBD Board and team:
o Appointed Dr David Holbrook and Dr Peter Pack as Non-Executive Directors.
o Expanded into the US by forming subsidiary and appointing Glen Ferguson to lead OBD’s business development activities in the region.
o Appointed Dr Bartu Ahiska as Senior Vice President (Commercial).
- Awarded the prestigious Queen’s Award for Enterprise: Innovation in April 2019.
- Expanded leading IP portfolio covering the EpiSwitch™ platform.
- Completed expansion of UK and Malaysian R&D facilities.
Financial highlights
- Revenue of £0.9m (FY18: £1.2m).
- Operating loss of £3.7m (FY18: £2.6m).
- Cash and term deposits of £15.5m as at 30 September 2019 (FY18: £18.3m).
- Investment of US$540,000 into Holos Life Sciences.
Post-period end
- Presentation of poster on use of EpiSwitch™ in IO, co-authored with EMD Serono, Pfizer and the Mayo Clinic.
- Appointment of Professor Iain McInnes to OBD’s Scientific Advisory Board.
Notice of Annual General Meeting
The Company’s Annual General Meeting will be held at The Kloppenberg Room, Cohen Quad, Exeter College, Walton Street, Oxford, OX1 2HE on 20 March 2020 at 11.00 am.
The information included in this announcement is extracted from the Annual Report, which was approved by the Directors on 9 December 2019. Defined terms used in the announcement refer to terms as defined in the Annual Report unless the context otherwise requires. This announcement should be read in conjunction with, and is not a substitute for, the full Annual Report.
