CDMO OXB Raises £60M to Fuel US Expansion and Boost Commercial Capabilities

Oxford-based cell and gene therapy contract development and manufacturing organization (CDMO) OXB, formerly known as Oxford Biomedica, has successfully raised £60 million ($81.4 million) through a share placement to support its ambitious growth plans in the United States. The fundraising effort underscores the company's commitment to expanding its commercial-scale capacity and addressing the increasing demand for viral vector manufacturing across all clinical phases and commercial supply.

Strategic Share Placement

OXB sold more than 12.2 million new ordinary shares at £4.31 ($5.85) per share, representing a 1.93% discount to the company's closing price on August 14. Additionally, existing shareholders subscribed for an additional 1.7 million shares at the same price. The successful placement highlights investor confidence in OXB's growth strategy and its position in the rapidly evolving cell and gene therapy market.

US Expansion Plans

The proceeds from the share placement will primarily be directed towards strategic investments to expand OXB's commercial-scale capacity in the United States. The company aims to create an end-to-end CDMO offering in the US, combining drug substance manufacturing with fill-finish capabilities. This expansion will complement OXB's existing 96,000-square-foot facility in Bedford, Massachusetts, which currently houses four vector substance suites and one vector production suite.

Frank Mathias, CEO of OXB, emphasized the significance of this move, stating, "This placing represents a compelling opportunity to fund expansion of commercial-scale capabilities in the U.S. alongside other strategic investments in order to meet growing client demand. These investments will support above-market growth, stronger profitability and an increased share of the growing viral vector market."

Financial Outlook and Global Footprint

OXB anticipates that the investments made possible by this fundraising will begin generating revenue from 2026. For the current year, the company projects revenues between £160 million ($217 million) and £170 million ($230 million), reflecting its strong market position and growth trajectory.

Beyond its US operations, OXB maintains a global presence with two facilities in France and one in the UK. This latest expansion effort follows the company's 2023 acquisition of French CDMO ABL Europe for 15 million euros ($16 million), which further enhanced its viral vector capabilities in Europe.