There's no denying Oxford BioMedica's (OXB) LentiVector platform holds promise. The technology, which transports genetically engineered cells into the human body, can be used in gene therapies to treat a wide range of diseases. Swiss pharma group Novartis (ch:NOVN) is doing just that and using the vectors as part of its CTL019 cancer drug, which is due for regulatory submission before the end of the year. This contract is the driving force behind OXB's commercial development gross income, which went up 94 per cent to £24m last year.
The group recently secured similar contracts with three more biotech groups, but seeing as these are start-up businesses, they don't carry the same weight as the Novartis deal. With total gross income of £30.8m, OXB is hugely reliant on CTL019. That said, the group is making progress in its own drug development, with five medicines in early-stage clinical trials.