Oxford BioMedica enters PD deals worth up to $824 million
UK gene and cell therapy group Oxford BioMedica (LSE:OXB) saw its share price leap more than 19% to 862.40 pence today, after it announced a lucrative deal to commercialize its Parkinson’s disease candidate, which could be worth as much as $824 million.
The company has entered into an exclusive worldwide licensing agreement with Axovant Sciences (Nasdaq: AXON) to develop and commercialize OXB-102, a gene therapy developed by Oxford BioMedica for Parkinson’s disease utilizing the LentiVector platform.
The news had a dramatic impact on Axovant, whose shares were down nearly 70% so far this year, but skyrocketed 160% to $4.55 by close of trading Wednesday.
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