Oxford
Biomedica plc awarded $0.5 million grant for motor neuron disease
programme
Oxford,
UK 17 December 2002 - Oxford BioMedica Plc (LSE: OXB) announced today that
it has been awarded a grant of $0.5 million to support its motor neuron
disease (MND) programme. The grant comes from the USA charity Andrew’s
Buddies/FightSMA, which is dedicated to the development of treatments for
Spinal Muscular Atrophy (SMA), a form of motor neuron disease that is one of
the most common causes of death in childhood.
SMA
is caused by a defect in the SMN-1 gene. It affects 1 in every 6,000 births
and 1 in 40 people are carriers. The defect leads to a degeneration of motor
neurons in the spinal cord with concomitant systemic loss of muscle
function. In the most severe form of the disease, weakness of the
respiratory muscles results in death usually before the age of two years.
The product strategy is to replace the defective gene using the Company’s
proprietary LentiVector® carrying the SMN-1 gene. Oxford
BioMedica retains all commercial rights arising from the grant-funded
programme and the Company anticipates having a clinical stage product within
two years
The
SMA product is part of Oxford BioMedica’s motor neuron disease programme
that also includes the development candidate MoNuDinä
for the most common form of MND, amyotrophic lateral sclerosis (ALS). ALS
has an estimated market of $200 million. Both products use Oxford
BioMedica’s proprietary LentiVector® gene delivery technology
and are at the preclinical stage of development. At present there are no
products that make a major impact on these devastating diseases.
“We
are delighted to fund this ground-breaking initiative. The work of Oxford
BioMedica breathes new hope into the lives of countless parents and their
children who suffer with SMA.” said Martha Slay, president of Andrew’s
Buddies/FightSMA.
Commenting
on the grant from Andrew’s Buddies/FightSMA, Oxford BioMedica’s Chief
Executive, Professor Alan Kingsman said;
“The
development of novel products for neurological disease is the largest growth
area in pharmaceutical research. Oxford BioMedica has an exceptional
capability in this area and is developing a pipeline of products of which
the lead is ProSavin® for Parkinson’s disease. We are
delighted that Andrew’s Buddies/FightSMA have recognised
the
quality of our technology and we look forward to working together towards an
effective treatment for this inherited disease that brings so much sorrow to
afflicted families”.
-Ends-
Notes to Editors
1.
Oxford BioMedica plc
Established in 1995 as a spin out
from Oxford University, Oxford BioMedica is an international biotechnology
company with a diverse portfolio of products and technology, specialising in
gene-based products and technology in the areas of cancer, neurological
disease, cardiovascular disease and blood disorders. This is underpinned by
over 70 patent families, about quarter of which are issued.
Oxford BioMedica plc was floated on the Alternative Investment Market of the
London Stock Exchange in December 1996, and was promoted to the United
Kingdom Listing Authority Official List in April 2001 following a successful
£35.5 million fund-raising.
Oxford
BioMedica is headquartered in Oxford, UK and has a wholly-owned subsidiary
in San Diego, USA.
Currently
Oxford BioMedica has corporate collaborations with Amersham, Arius, Aventis,
IDM, Valentis, Virbac and Wyeth.
BioMedica has two products in Phase I/II clinical trials: MetXia® for
late-stage breast cancer, and TroVax® for late-stage colorectal
cancer.
2.
World Wide Web
Further information is available on the World Wide
Web at http://www.oxfordbiomedica.co.uk
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For
further information, please contact:
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Oxford BioMedica plc
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Professor Alan Kingsman, Chief Executive
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Tel: +44 (0)1865 783 000
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City/Financial Enquiries:
Mike Wort, James Chandler:
Beattie Financial
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Tel: +44 (0)20 7398 3300
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Scientific/Trade Press
Enquiries:
Sue Charles, Katja Stout:
Northbank Communications
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Tel: +44 (0)20 7321 3870
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