Oxford Biomedica PLC (LON:OXB) shares jumped 7% higher this morning after announcing a US$100mln collaboration and licence agreement with US haemophilia specialist Bioverativ Inc (NASDAQ:BIVV).
Under the terms of the agreement, Oxford Biomedica will receive a US$5mln payment upfront and will also be eligible to receive various milestone payments potentially worth in excess of US$100mln and undisclosed royalties on net sales of Bioverativ’s lentiviral vector haemophilia products.
WATCH: Oxford Biomedica CEO 'excited' about potential for LentiVector technology
Bioverativ will also fund process development and scale-up activities for its lentiviral vector haemophilia products at Oxford Biomedica.
Last month Bioverativ agreed to be acquired by French pharmaceuticals giant Sanofi.
READ: Bioverativ soars as it agrees to be taken over by Sanofi for US$11.6bn
John Dawson, Oxford Biomedica's CEO, said: “This new deal, potentially worth in excess of US$100mln, demonstrates Oxford Biomedica’s strategy of building multiple partnerships with leaders in their therapeutic categories and will support the group’s continued growth.”
He added: "Oxford BioMedica is recognised as a world leader in the field of development and manufacturing of lentiviral vectors and we are delighted to be supporting Bioverativ in the development of gene therapy products to treat haemophilia."
In early morning trading, Oxford Biomedica’s shares were up 7.1% at 11.5p.