Oxford BioMedica PLC (OXBDF)

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Oxford BioMedica notes that Axovant doses first patient in clinical study of AXO-Lenti-PD, a novel gene therapy for patients with Parkinson’s disease
Oxford, UK – 25 October 2018: Oxford BioMedica plc (LSE:OXB) (“Oxford BioMedica” or “the Group”), a leading gene and cell therapy group, notes that its partner, Axovant Sciences (NASDAQ:AXON), a company developing innovative gene therapies for neurologic and neuromuscular diseases, has announced the successful dosing of the first patient in a clinical study of AXO-Lenti-PD, also known as OXB-102, an investigational gene therapy for patients with Parkinson’s disease. AXO-Lenti-PD is a novel gene therapy that enables the expression of a set of three critical enzymes required for end-to-end dopamine synthesis in the brain. It was orginally developed by Oxford BioMedica and subsequently outlicensed to Axovant in June 2018.

AXO-Lenti-PD was administered to the first patient on the study at the Clinical Research Facility affiliated with the National Institute for Health Research (NIHR) and University College London Hospitals (UCLH). The patient experienced no complications related to the surgery or to administration of the vector and was discharged home as planned.

The ongoing clinical study of AXO-Lenti-PD will evaluate safety and tolerability, as well as collect efficacy data including standard measures of motor function in patients with Parkinson’s disease. Initial data from the first cohort of patients in the clinical trial is expected in the first half of 2019. This study will build upon the long-term safety and efficacy results reported in the phase I/II trial of ProSavin®, which showed up to six-year durability of reductions in UPDRS Part III “OFF” scores in data shared last week at the Annual Congress of the European Society of Gene and Cell Therapy and recently published in Human Gene Therapy, Clinical Development.

Under the terms of the agreement with Axovant, Oxford BioMedica received a $30 million upfront payment (approximately £22 million) including $5 million as pre-payment for manufacturing activities related to OXB-102, now renamed AXO-Lenti-PD. Oxford BioMedica is also eligible to receive $55 million upon the achievement of specified development milestones and $757.5 million upon the achievement of specified regulatory and sales milestones, with 7% to 10% tiered royalties on net sales of AXO-Lenti-PD.

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