Revenues up 44 per cent at OXB as biotech’s pivot pays off
OXB (formerly Oxford Biomedica) expects to report revenues of between £127 million and £129 million for the year ended 31 December 2024 – up 44 per cent on the 12 months prior.
It’s also predicting organic growth of around 80 per cent.
This follows the company’s pivot from Covid vaccines to establish itself as a pure-play cell and gene therapy contract development and manufacturing organization (CDMO).
Dr Frank Mathias, CEO of OXB, said: “We’re continuing to execute our multi-vector, multi-site ‘one OXB’ strategy and have successfully transformed our business into a pure-play CDMO.
“Our competitive advantage is reflected in our strong financial performance, with our order book almost doubling since August – demonstrating the increasing demand for our CDMO services.
“Alongside strong commercial momentum, we’ve seen a strong improvement in our operating EBITDA as we progress towards profitability in 2025.
“With our unique positioning and long track record of 30 years, we’re well positioned to capture a growing share of the expanding cell and gene therapy market and create significant value for our shareholders.”
OXB will report its preliminary results for the year on 9 April.
