Oxford, UK – 10 March 2008: Oxford BioMedica (LSE: OXB), a leading gene therapy company, today announces its preliminary results for the year ended 31 December 2007.

Operational highlights:

TroVax®: cancer

· Global collaboration with sanofi-aventis

· Achieved two milestones under sanofi-aventis agreement

· Three successful DSMB reviews of TRIST study in renal cancer

· Further Phase II results in renal cancer suggest therapeutic potential

ProSavin®: Parkinson’s disease

· Initiated Phase I/II trial in Parkinson’s disease

· Efficacy in ongoing preclinical studies exceeds 27 months

Hi-8® MEL: melanoma

· Phase II follow-up confirms survival advantage in immune responders

Other development products

· Recruitment progressing in Phase II trial of MetXia® in pancreatic cancer

· Preclinical results with RetinoStat® in wet AMD confirm proof of concept

· Preclinical results with StarGen™ in Stargardt’s disease confirm proof of concept

· Initiated EndoAngio-GT anti-cancer programme

Technology and corporate

· Acquisition of Oxxon Therapeutics

· Technology licensing agreement with major US biotech company

· Secured rights to therapeutic use of Nobel Prize-winning RNAi technology

Financial highlights (audited financial results):

· Payments from sanofi-aventis £25.8 million (2006: nil)

· Revenue £7.2 million (2006: £0.8 million)

· Research & development costs £22.1 million (2006: £19.5 million)

· Loss for the year £15.3 million (2006: £17.6 million)

· Positive operational cash flow £5.9 million (2006: cash burn £15.9 million)

· Net cash1 £38.1 million (31 December 2006: £28.5 million)

Commenting on the annual results, Oxford BioMedica’s Chief Executive, Professor Alan Kingsman said: “2007 has been a transformational year for Oxford BioMedica with the achievement of our two main corporate objectives: a global alliance with sanofi-aventis for TroVax; and the initiation of a Phase I/II trial with ProSavin in Parkinson’s disease. We have ended 2007 with four products in clinical development; support for our lead product from a partner that is a major player in oncology and vaccines; and a strengthened balance sheet. In 2008, we will maintain our focused and financially prudent strategy for growth. Over the next 18 months, key clinical results are expected from trials of both TroVax and ProSavin, which could dramatically enhance the value of these programmes and could support the registration of our first therapeutic product.”

To view the full preliminary results visit: http://www.oxfordbiomedica.co.uk/pdfs/OXB%20FY07%20prelim%20results.pdf

1. Cash, cash equivalents and current financial assets

-Ends-

For further information, please contact:

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

JPMorgan Cazenove Limited:
James Mitford/ Gina Gibson
Tel: +44 (0)20 7588 2828

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
College Hill Life Sciences
Tel: +44 (0)20 7457 2020

US Enquiries:
Thomas Fechtner
The Trout Group LLC
Tel: (646) 378 2900

Notes to editors

1. Oxford BioMedica

Oxford BioMedica (LSE: OXB) is a biopharmaceutical company specialising in cancer immunotherapy and gene-based therapies. The Company was established in 1995, as a spin-out from Oxford University, and is listed on the London Stock Exchange.

The Company has a platform of gene delivery technologies, which are based on highly engineered viral systems. Oxford BioMedica also has in-house clinical, regulatory and manufacturing know-how. The lead product candidate is TroVax®, an immunotherapy for multiple solid cancers, which is licensed to sanofi-aventis for global development and commercialisation. TroVax is in Phase III development. Oxford BioMedica has three other products in clinical development, including ProSavin®, a novel gene-based treatment for Parkinson’s disease, in a Phase I/II trial. 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 approximately 85. Oxford BioMedica has collaborations with sanofi-aventis, Wyeth, Sigma-Aldrich, MolMed and Virxsys. Technology licensees include Biogen Idec, Merck & Co, GlaxoSmithKline and Pfizer.

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