Proactive Investors - Run By Investors For Investors

Oxford University biotech spinout to float on AIM

Oxford BioDynamics will officially list on AIM next week, in what will be a boost for the UK life sciences sector
picture of drugs being tested
Oxford BioDynamics is valued at £136mln

A biotech firm spun-out from the University of Oxford almost a decade ago will make its debut on the AIM market next week after successfully raising £20mln from investors.

Oxford BioDynamics is focused on epigenetics, and its technology analyses biomarkers in the blood to help pharma companies work out which patients are likely to benefit most from a particular drug.

It’s a growing market that Oxford is looking to crack and one that it says will only continue to expand.

The outsourced biomarker and companion diagnostic markets are estimated to be worth around US$6bn a year at the moment and are forecast to register double-digit growth for the next couple of years.

“We are delighted to be joining AIM at such a pivotal time in the company’s development,” said chief executive Christian Hoyer Millar.

“By further strengthening our balance sheet, we are now ideally positioned to accelerate our growth at a time where we believe that there are significant opportunities for the EpiSwitch platform.”

It recorded a loss of £1mln last year, but unlike some of its peers it is revenue-generating, getting its income through contracts with pharmaceutical groups.

Oxford BioDynamics – predictably based in Oxford – will come to AIM with a market cap of around £136mln.

Of the £20mln proceeds, around £7.1mln will find its way to the company, with the selling shareholders receiving the remainder.

The biotech says it will use the cash to fund expansion and enhance its IP portfolio, and it hopes the injection will provide enough working capital for the next two to three years.

Some of the money will also go towards helping Oxford establish a presence across the pond, with the US seen as the go-to market for companies of this ilk.

Shares are due to start trading on 6 December and are priced at 158p.

View full PROAC profile View Profile

Proactiveinvestors Timeline

Related Articles

October 16 2018
It comes after a solid 12 months for the company, which has transformed itself into an omni-channel marketing automation platform with last year’s acquisition of Comapi
Throne of Glass
October 23 2018
Rowling, Rowling, Rowling ... keep those titles rolling. Mind you, it's not all about Ms Rowling; Sarah J Maas title revenues grew 47% in the first half of the financial year and dieters are gorging on Tom Kerridge's books
Students in a class
August 27 2018
The company is gaining traction in Asia where people are looking to take language courses to work or study internationally

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use