OXFORD BIOMEDICA PLC PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2006

Oxford, UK – 6 March 2007: Oxford BioMedica (LSE: OXB), the leading gene therapy company, today announces its preliminary results for the year ended 31 December 2006.

Operational highlights:

TroVax® (cancer)

· Licensing discussions at advanced stage

· International Phase III TRIST trial for renal cancer in progress

· FDA Special Protocol Assessment for Phase III TRIST trial

· Positive recommendation for orphan drug designation in EU for renal cancer

· Encouraging results from Phase II trials in renal, colorectal and prostate cancer

· UK clinical network committed to Phase III trial in colorectal cancer

MetXia® (cancer)

· Three dose levels of cyclophosphamide alongside MetXia successfully evaluated in second stage of Phase II trial in pancreatic cancer

Targeted Antibody Therapy/CME-548 (cancer)

· Wyeth completed key preclinical studies

ProSavin® (Parkinson’s disease)

· ProSavin outperformed standard treatment in preclinical studies

· Manufacturing of clinical material initiated in GMP facility

· Regulatory process for start of clinical trials underway

RetinoStat® (retinopathy)

· Preclinical results with optimised clinical candidate confirmed efficacy

· Preparations for clinical trials initiated

StarGen™ (Stargardt’s disease)

· Preclinical programme initiated in collaboration with the Foundation Fighting Blindness

Technology licensing

· LentiVector® technology licensing agreement with GlaxoSmithKline

Financial highlights (audited financial results):

· Revenue of £0.8 million (2005: £0.8 million)

· Research and development costs of £19.5 million (2005: £9.3 million)

· Loss for the year of £17.6 million: (2005: £9.1 million)

· Net cash used in operating activities of £15.7 million (2005: £7.3 million)

· Year end cash, cash equivalents and current asset investments of £28.5 million (2005: £43.8 million)

Commenting on the annual results, Oxford BioMedica’s Chief Executive, Professor Alan Kingsman said: “2006 has been a landmark year for Oxford BioMedica with TroVax entering Phase III development that, if successful, should lead to product launch in 2009 for the treatment of renal cancer. We made excellent progress with our lead neurotherapy programmes as well as expanding our technology licensing activities. Furthermore, following extensive commercial discussions with potential partners for TroVax we are now negotiating final contractual terms and, subject to agreement on these terms and final approvals, we hope to conclude a licensing agreement in the near future.”

To view the full documentation including the Chairman’s Report, Operating Review, Financial Review and preliminary results, please visit:

http://www.oxfordbiomedica.co.uk/pdfs/fy06.pdf 

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For further information, please contact:

Oxford BioMedica plc:
Professor Alan Kingsman, Chief Executive
Tel: +44 (0)1865 783 000

City/Financial Enquiries:
Lisa Baderoon/ Mark Court/ Mary-Jane Johnson
Buchanan Communications
Tel: +44 (0)20 7466 5000

Scientific/Trade Press Enquiries:
Gemma Price/ Holly Griffiths/ Katja Stout
Northbank Communications
Tel: +44 (0)20 7268 3002

Notes to editors:
1. Oxford BioMedica

Oxford BioMedica (LSE: OXB) is a biopharmaceutical company specialising in the development of novel gene-based therapeutics with a focus on oncology and neurotherapy. The Company was established in 1995 as a spin out from Oxford University, and is listed on the London Stock Exchange.

Oxford BioMedica has core expertise in gene delivery, as well as in-house clinical, regulatory and manufacturing know-how. In oncology, the pipeline includes two clinical candidates and a preclinical targeted antibody therapy, which is being developed in collaboration with Wyeth. The Company has started Phase III development of its lead cancer immunotherapy product, TroVax, in renal cancer and has an ongoing Phase II programme in various cancer settings including renal, colorectal and prostate cancer. In neurotherapy, the Company’s lead product, ProSavin, is expected to enter clinical trials in Parkinson’s disease in 2007. The preclinical pipeline includes gene-based products for vision loss, motor neuron disease and nerve repair.

The Company is underpinned by over 80 patent families, which represent one of the broadest patent estates in the field. The Company has a staff of 72 split between its main facilities in Oxford and its wholly owned subsidiary, BioMedica Inc, in San Diego, California. Oxford BioMedica has corporate collaborations with Wyeth, Intervet, Sigma-Aldrich, Viragen, MolMed and VIRxSYS; and has licensed technology to a number of companies including Merck & Co, Biogen Idec, GlaxoSmithKline and Pfizer.

Further information is available at www.oxfordbiomedica.co.uk