Oxford Biomedica posts strong results amid streamlining efforts
Oxford Biomedica has ‘continued to see strong momentum’ for the six months ended 30 June 2024.
The firm’s latest trading update anticipates half-year revenues of around £50 million, with full-year revenue guidance between £126 million and £134 million.
Oxford Biomedica has pivoted over the past couple of years from Covid vaccine manufacturing to establishing itself as a pure-play cell and gene therapy contract development and manufacturing organisation (CDMO).
Recently, the company has been busy streamlining its operations in the UK, US and the EU, having acquired ABL Europe (since renamed Oxford Biomedica (France)) last December.
This is expected to pay off in the latter half of 2024 as the board anticipates a bump in revenues.
Dr. Frank Mathias, CEO of Oxford Biomedica, said: “Our multi-site, multi-vector strategy is gaining traction, demonstrated by our strong revenue backlog and growing order book.
“These strong KPIs and high GMP suite reservation for 2025 provide us with confidence in our growth trajectory and our ability to capitalise on the growing opportunities in the cell and gene therapy market.”
Interim results for the period are expected on Monday 23 September 2024.
