Oxford Biomedica stays strong through pivot away from vaccines

Oxford Biomedica has found reasons to be cheerful in its annual results for the year ended 31 December 2023, despite loss of revenues from Covid vaccine manufacturing.

Excluding vaccines, the firm saw growth exceed 50 per cent in both its orders and pipeline, along with a small increase in its core business revenues.

Combined contract value of client orders now sits at £131 million – up from £85 million in 2022 – while its pipeline grew to £351 million between January and December 2023.

Oxford Biomedica also recently finalised the acquisition of French firm ABL Europe from Institut Mérieux, enhancing its bioprocessing and manufacturing footprint in the EU.

It’s all come under the leadership of Dr Frank Mathias, now one year into his tenure as CEO.

“2023 was a year of transformation for Oxford Biomedica”, said Dr Mathias.

“We’re building our position as a global pure-play cell and gene therapy contract development manufacturing company (CDMO).

“Through our ‘One OXB’ strategy, we’re unifying our operations in the UK, US and the EU, including our newly acquired sites in France.

“I’m delighted with the positive outcomes of our strategy, which have already resulted in a substantial increase in contracted client orders and our business development pipeline.

“Despite challenging market conditions, we continue to see strong demand for our CDMO services.

“Our focus in 2024 remains on growing our global portfolio of clients and projects across all stages of clinical development whilst completing the integration of our sites.

“I’d also like to take this opportunity to express my gratitude to all our employees for their tireless efforts, as well as their perseverance and commitment during a period of significant change for the group.

“Their dedication and hard work have been instrumental in our transformation into a pure-play CDMO and achieving the significant milestones along the way.”