Edison Issues Outlook on Oxford Biomedica (OXB)

LONDON, UK / ACCESSWIRE / June 4, 2019 / Oxford Biomedica (LSE: OXB) is a pioneer and global leader in the development and manufacture of commercial-scale lentiviral vectors (LVV), a critical component of cell and gene therapies (CGT). OXB has numerous value streams, including manufacturing, royalties and milestones on partnered product sales. Its technology and R&D pipeline have been validated by numerous partnerships (Novartis’s CAR-T Kymriah, Axovant deal for AXO-Lenti-PD). We believe the greatest opportunity lies in OXB’s own gene therapy R&D capabilities; higher investment now is imperative to reap future economic returns in this highly innovative and potentially lucrative therapy area. We value OXB at £649m.

Our valuation of OXB is £649m, versus £632m previously. We have reduced our Kymriah forecasts in diffuse large B-cell lymphoma (DLBCL), offset by increasing the probability of success on AXO-Lenti-PD and some other minor adjustments. We also roll forward our model and update net cash; specifically, we remove OXB’s debt position reflecting Novo Holding’s recent 10% investment in OXB. Our core driver remains OXB’s partnerships, which represent 517p/share of our total value.

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All reports published by Edison are available to download free of charge from its website www.edisongroup.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Susie Jana, +44 (0)20 3077 5700
Daniel Wilkinson, +44 (0)20 3077 5734
Sean Conroy, +44 (0)20 3681 2534
healthcare@edisongroup.com

Learn more at www.edisongroup.com and connect with Edison on:
LinkedIn https://www.linkedin.com/company/edison-investment-research
Twitter www.twitter.com/Edison_Inv_Res
YouTube www.youtube.com/edisonitv

SOURCE: Edison Investment Research Limited

View source version on accesswire.com:
https://www.accesswire.com/547680/Edison-Issues-Outlook-on-Oxford-Biomedica-OXB

Edison Issues Outlook on Oxford Biomedica (OXB)

LONDON, UK / ACCESSWIRE / June 4, 2019 / Oxford Biomedica (LSE: OXB) is a pioneer and global leader in the development and manufacture of commercial-scale lentiviral vectors (LVV), a critical component of cell and gene therapies (CGT). OXB has numerous value streams, including manufacturing, royalties and milestones on partnered product sales. Its technology and R&D pipeline have been validated by numerous partnerships (Novartis’s CAR-T Kymriah, Axovant deal for AXO-Lenti-PD). We believe the greatest opportunity lies in OXB’s own gene therapy R&D capabilities; higher investment now is imperative to reap future economic returns in this highly innovative and potentially lucrative therapy area. We value OXB at £649m.

Our valuation of OXB is £649m, versus £632m previously. We have reduced our Kymriah forecasts in diffuse large B-cell lymphoma (DLBCL), offset by increasing the probability of success on AXO-Lenti-PD and some other minor adjustments. We also roll forward our model and update net cash; specifically, we remove OXB’s debt position reflecting Novo Holding’s recent 10% investment in OXB. Our core driver remains OXB’s partnerships, which represent 517p/share of our total value.

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website www.edisongroup.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Susie Jana, +44 (0)20 3077 5700
Daniel Wilkinson, +44 (0)20 3077 5734
Sean Conroy, +44 (0)20 3681 2534
healthcare@edisongroup.com

Learn more at www.edisongroup.com and connect with Edison on:
LinkedIn https://www.linkedin.com/company/edison-investment-research
Twitter www.twitter.com/Edison_Inv_Res
YouTube www.youtube.com/edisonitv

SOURCE: Edison Investment Research Limited

View source version on accesswire.com:
https://www.accesswire.com/547680/Edison-Issues-Outlook-on-Oxford-Biomedica-OXB

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