08:00 Wed 06 May 2020
Mercia Asset Mgt PLC - Investment into OXGENE
RNS Reach
("Mercia", the "Company" or the "Group")
Mercia invests
OXGENE™ combines precision engineering, biology, robotics and bioinformatics to accelerate the design, discovery and manufacture of new biologics. Working across the fields of gene therapy, gene editing and antibody therapeutics, OXGENE™ has worked with global partners including
In addition, OXGENE™ has signed eight separate licence agreements providing access to its technology and recently announced a strategic partnership with FUJIFILM Diosynth Biotechnologies, a world leading cGMP contract development and manufacturing organisation, to support its partners in the development and production of biologics, vaccines and gene therapies.
The synthetic biology market in which OXGENE™ operates is estimated to grow from
Jo Bath, Chief Operations Officer of OXGENE™, said:
"Over the course of this financial year, OXGENE™ has once again more than doubled its revenue, with less than a 50% increase in headcount. This is testament not only to the hard work and effective management of our team, but also to the strength of our automation platform, and our focused approach to business and technology development.
Mercia has continued to support and encourage us through this year of growth and transition. Their support goes beyond financial, helping us navigate through challenges as they arise. We're extremely proud of everything we've accomplished this year, and look forward to bringing more innovative, game changing technologies to market in the year ahead."
Mark Payton, Chief Executive Officer of Mercia, commented:
"OXGENE™ is now being repeatedly recognised by some of the world's largest pharmaceutical brands which see the considerable value of its proprietary technology. The company is rapidly addressing global healthcare challenges and this latest investment round demonstrates the confidence that Mercia has in the business and its management team to deliver medium to long-term value."
Ends
For further information, please contact:
Mark Payton, Chief Executive Officer Martin Glanfield, Chief Financial Officer
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+44 (0)330 223 1430
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+44 (0)20 7523 8000 |
Simon Bridges, Richard Andrews |
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N+1 Singer (Joint Broker) |
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Harry Gooden, James Moat |
+44 (0)20 7496 3000 |
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+44 (0)20 3727 1051 |
Tom Blackwell, Louisa Feltes, Antonia Powell |
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About
Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital: the Group's 'Complete
The Group has a strong UK regional footprint through its eight offices, 19 university partnerships and extensive personal networks, providing it with access to high-quality deal flow. Mercia currently has c.
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