Oxford BioMedica PLC (OXBDF)

[marcusl2]

s. From Novartis’
point of view, it was important to have a commercial deal in place prior to the ODAC
meeting otherwise a positive outcome would have strengthened even further OXB’s
already strong negotiating position.

. Forecasts suggest OXB will turn EBITDA
positive in 2017, and become profitable overall at the EBIT level in 2018.Bioprocessing
royalties are likely to result in significant upside potential in the near future.

Should CTL019 be approved,
OXB’s facilities would need another inspection by Novartis, adding to OXB’s
attractiveness as a clinical-grade vector manufacturer.

Our conservative estimate is that OXB will receive $82m in royalties by 2025
for CTL019 in B-ALL and DLBCL (including a lead-in period to include Health
Technology Assessments and other market access requirements). This does not take
into account bioprocessing revenues, or royalties from other CAR-T programmes.

Novartis CAR-T programmes
Candidate Target antigen *Indication Development
CTL019 CD19 B-ALL Pivotal phase II (ELIANA trial)
CTL019 CD19 DLBCL Pivotal phase II (JULIET trial)
BCMA MM Phase I/II
CTL119 CD19 CLL Human pilot
“CART22” CD22 B-ALL Terminated in phase I (June 2017)
Multiple Pre-clinical/phase I

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