Oxford Biomedica (LSE:OXB) said it has strengthened its long-standing collaboration with Bristol Myers Squibb after signing a new multi-year commercial supply agreement covering the manufacture of lentiviral vectors for BMS’s CAR-T cell therapy programmes. The agreement runs for an initial five-year term, with an option to extend, and represents a shift from clinical-stage support to commercial-scale manufacturing.
Under the terms of the deal, Oxford Biomedica expects to begin commercial production in 2026 at its facilities in Oxford in the UK and Durham, North Carolina, subject to regulatory approvals. The company said the contract is expected to deliver meaningful revenue over multiple years and provides greater confidence around its medium-term financial guidance. Management highlighted the agreement as validation of its focused CDMO strategy, improving revenue visibility while reinforcing its position as a key supplier of high-quality viral vectors as demand for scalable CAR-T manufacturing continues to grow.
Despite the strategic significance of the deal, Oxford Biomedica’s broader outlook remains constrained by financial pressures, including ongoing losses, negative cash flows and elevated leverage, even as recent revenue growth has been strong. From a market perspective, technical indicators remain supportive, with the share price in a clear uptrend and a positive MACD signal, although very elevated RSI and stochastic readings point to increased near-term pullback risk. Valuation continues to be limited by negative earnings and the absence of a dividend yield.
More about Oxford Biomedica
Oxford Biomedica is a global contract development and manufacturing organisation specialising in cell and gene therapies. With around three decades of experience in viral vectors, the company develops and manufactures lentiviral, AAV, adenoviral and other vectors for pharmaceutical and biotechnology partners, supporting programmes from early development through to commercial supply. The FTSE 250-listed group is headquartered in Oxford, UK, with development and manufacturing sites in the UK, France and the United States, and a portfolio of proprietary technologies including its fourth-generation TetraVecta lentiviral vector system.
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