Vaccine firm Oxford Biomedica reports revenue rise of 63% in the past year
Oxford-based FTSE 250 cell and gene therapy company Oxford Biomedica are reporting record growth. Total revenues are up 63%, according to Wednesday's preliminary results. That equates to more than £140m in profits for the year. In 2020 that figure was £87.7 million.
Revenues from the organisation's bioprocessing and commercial development grew a weighty 87% in 2021. The company put that huge growth down to what it called 'large-scale commercial manufacture of the Oxford AstraZeneca Covid-19 vaccine'.
Money generated from general operations came to £24.5m last year, up from £3.9m in 2020. Again, this can be attributed to the manufacture of the AstraZeneca vaccine.
Oxford Biomedica went on to predict that 2022 profits would be significantly below 2021's, given the pause on the vaccine rollout. It still anticipates much higher income than they saw in 2020.
Dr. Roch Doliveux is the Chair and Interim Chief Executive Officer of Oxford Biomedica. He had the following to say about the results:
"I am delighted with our performance in 2021 which was a true testament to the hard work of all our employees. 2021 financial performance was exceptional due to large-scale manufacture of the adenovirus-based Oxford AstraZeneca COVID-19 vaccine, and we have successfully manufactured over 100 million doses since the partnership began. During the year we also built on our existing partnerships, including with Boehringer Ingelheim, as well as signed two new partnerships with innovative biotech companies, Immatics and Arcellx."
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"2022 will be another important year as we execute on our strategy to become a global viral vector leader, providing life-changing therapies and vaccines to patients. With the outsourced vector manufacturing supply market growing rapidly, we see significant potential to build upon our success with lentiviral vectors and expand the scope of our innovative process development and manufacturing to all classes of viral vectors."
"Our recently launched Boston, US-based Adeno-Associated Virus manufacturing and innovation business, brings a fully established and operating 'Plug & Play' platform, four patent families, and the full breadth of AAV capabilities and capacity into Oxford Biomedica. This lays the foundation to increase our presence in the strategically important US market and build our global footprint."
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