Commenting on the results, Christian Hoyer Millar, Chief Executive Officer of Oxford BioDynamics, said:
“In 2018 we have continued to build on the strong foundations established in 2017 following our successful IPO. Investment in our commercial infrastructure has allowed us to further our customer and geographical reach, with our EpiSwitch™ technology increasingly becoming the leading industry standard for identifying epigenetic biomarkers. We have signed multiple commercial development partnerships, in Europe, the US and China in new and challenging clinical indications. Our EpiSwitch™ platform is fast becoming internationally recognised as an effective and novel platform to improve therapeutic options. We were delighted to sign a strategic partnership with GL earlier this year, not only strengthening our cash position but also further establishing our position in the rapidly growing Chinese market. We look forward to reporting progress on the multiple projects currently underway.”
Oxford BioDynamics Plc (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, today announced its audited results for the year ended 30 September 2018.
Corporate, operational and recent highlights
Six revenue-generating research and development projects for commercial customers in diverse fields including immuno-oncology, fibrosis and thyroid cancer.
Successful completion of Innovate UK grant-funded ALS project, followed by validation in peer-reviewed publication and expressions of commercial interest.
Announcement of strategic partnership in China with GL Capital Group (“GL”), a leading Chinese Healthcare Investment Group, with GL investing £9.75m and becoming a holder of 5% of the Company.
Significant progress in applying the EpiSwitch™ platform to areas of human and equine fitness, and announcement of a collaboration in the area of sports-related concussion.
Grant of core patents covering the EpiSwitch™ platform technology in the US, Canada and India. Two new patents filed along with extensive exemplification on previously filed patents.
Revenue of £1.2m (FY17: £1.2m).
Operating loss of £2.6m (FY17: £4.0m).
Cash of £18.3m as at 30 September 2018 (FY17: £10.8m).
Announcement of fifth immuno-oncology (“IO”) collaboration, with a well-known US biopharmaceutical company.
Announcement of collaboration with Casa Sollievo della Sofferenza, a key national biomedical and healthcare institution in Italy, to develop a panel of epigenetic biomarkers for the diagnosis of Autistic Spectrum Disorder.
Exercise of option over 30% shareholding in commercial partner, Holos Life Sciences Pte Ltd (“Holos”).
Signing of two exclusive licence agreements with Holos, in the fields of human and equine performance and wellness.
Filing of one further patent, covering the use of the EpiSwitch™ platform in detecting disseminating biomarkers in the context of strength and endurance training for fitness and in professional sports.