OXBDF - Oxford Biomedica completes deal with Homology Medicines to set up 1st US subsidiary

Oxford Biomedica (OTCPK:OXBDF) completed its deal with Homology Medicines (NASDAQ:FIXX) to establish its first U.S.-based subsidiary Oxford Biomedica Solutions, an Adeno-Associated Virus (AAV) manufacturing and innovation business. Under the deal, which was announced in January, Oxford Biomedica owns an 80% stake, while Homology holds the remaining 20%, of the Boston-based company. The company said Oxford Biomedica Solutions is now fully operational and offers a platform that is capable of achieving both high antibodies and high product quality vector for customers. The company added that the platform has already been proven with three separate new product INDs, and the process has been run successfully at representative scale more than 600 times. "This transaction also sees us form our first US operating subsidiary, located close to customers, talent, innovation in academia and pools of capital, which will enhance our market leadership position working across key viral vector types," said Oxford Biomedica's Chair and Interim CEO Roch Doliveux.

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Oxford Biomedica completes deal with Homology Medicines to set up 1st US subsidiary