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Oxford Biodynamics Plc - Full Year Results

Oxford Biodynamics Plc - Full Year Results

Oxford BioDynamics Plc (AIM: OBD), a biotechnology company developing precision medicine tests for personalized healthcare based on the EpiSwitch™ 3D genomics platform, today announces its final results for the year ended 30 September 2020.

Corporate highlights

  • Board restructure and additions to senior team to focus on commercialization, especially in the US, including appointment of Dr Jon Burrows as CEO and Board Director (March 2020)
     
  • Group's Chief Scientific Officer, Dr Alexandre Akoulitchev, appointed to represent OBD on the Foundation for the National Institutes of Health (FNIH) Biomarkers Consortium Steering Committees in Oncology, Inflammation & Immunity, and Neuroscience in Bethesda, MD, USA (April 2020)
     
  • Appointment of Professor Iain McInnes to the Company's Scientific Advisory Board (October 2019)


Operational highlights

  • Inclusion of the Group's EpiSwitch™ technology in the GETAFIX clinical study, in collaboration with the University of Glasgow, to perform prognostic and predictive profiling of COVID-19 patients (April 2020)
     
  • Publication in peer-reviewed Translational Medicine (Communications) of the development of the first successful blood-based assay for prognostic stratification and disease subtyping in diffuse large B-cell lymphoma (DLBCL), in collaboration with Roche and Genentech (March 2020)
     
  • Signature of master services agreement with top US pharmaceutical company (December 2019)
     
  • Presentation at SITC of significant results of the utility of OBD's EpiSwitch™ in predicting response to immuno-oncology (IO) treatments, co-authored with Pfizer, EMD Serono and Mayo Clinic, offering significant commercial potential (November 2019)
     
  • Recruitment of first patient to the Mitsubishi Tanabe Pharma America (MTPA)-sponsored REFINE-ALS clinical study, in which EpiSwitch™ biomarkers are used to assess the rate of amyotrophic lateral sclerosis (ALS) disease progression (October 2019)
     
  • Further expansion of IP portfolio covering the EpiSwitch™ platform, now including 17 patent families
     

Financial highlights

  • Revenue of £0.5m (FY19: £0.9m)
     
  • Operating loss of £5.0m (FY19: £3.7m)
     
  • Cash and term deposits of £11.5m as at 30 September 2020 (FY19: £15.5m)
     

Post-period end highlights

 

  • Announcement of expanded strategic focus beyond biomarker discovery to development and commercialization of laboratory tests (December 2020)
     
  • Appointment of Matthew Wakefield as Non-Executive Chairman (December 2020)
     
  • Receipt of first samples from REFINE-ALS clinical study (December 2020)
     

Commenting on the results, Jon Burrows, Chief Executive Officer of Oxford BioDynamics, said:

“2020 was a year of transition and development for OBD. We have focused on readying the Company for the near-term commercialization of its 3D genomics technology platform, EpiSwitch™.


“As we announced during the year, our R&D project revenues were affected by the COVID-19 pandemic, but we were pleased to continue working with several partners throughout the year and to plan for the expansion of our strategic focus, which we announced in December.


“In the latter part of the year, we concentrated our efforts on the development of our COVID-19 severity test. Completing this in under six months was a great success for the whole OBD team. We begin 2021 ready to launch this, our first proprietary test, in the US market, with a pipeline of molecular diagnostic tests developed using our EpiSwitch™ technology platform, ready to be deployed behind it. We look forward to sharing more progress over the rest of the year.”


For a full version of the statement, please visit the investor section of the Company’s website at: www.oxfordbiodynamics.com.


Notice of Annual General Meeting

The Company's Annual General Meeting will be held at Oxford Works, Building 4650 Kingsgate, Oxford Business Park, Oxford, OX4 2SU on 24 March 2021 at 12.00 pm.


The information included in this announcement is extracted from the Annual Report, which was approved by the Directors on 27 January 2021. Defined terms used in the announcement refer to terms as defined in the Annual Report unless the context otherwise requires. This announcement should be read in conjunction with, and is not a substitute for, the full Annual Report.


The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.


About Oxford BioDynamics Plc

Oxford BioDynamics Plc (AIM: OBD) is a global biotechnology company, advancing personalized healthcare by developing and commercializing precision medicine tests for life-changing diseases.


The Company has developed a proprietary 3D genomic biomarker platform, EpiSwitch™, which can build molecular diagnostic classifiers for prediction of response to therapy, patient prognosis, disease diagnosis and subtyping, and residual disease monitoring in a wide range of indications.


Oxford BioDynamics has participated in more than 40 partnerships with big pharma and leading institutions including Pfizer, EMD Serono, Genentech, Roche, Biogen, Mayo Clinic, Massachusetts General Hospital and Mitsubishi Tanabe Pharma.


The Company has created a valuable technology portfolio, including biomarker arrays, molecular diagnostic tests, bioinformatic tools for 3D genomics and an expertly curated 3D genome knowledgebase comprising hundreds of millions of data points from over 10,000 samples in more than 30 human diseases.
 

OBD is headquartered in Oxford, UK and is listed on the London Stock Exchange’s AIM market. It also has a commercial team in the US and a reference laboratory in Penang, Malaysia.


For more information, please visit the Company's website, www.oxfordbiodynamics.com, or follow on Twitter or LinkedIn.


About EpiSwitch

The 3D configuration of the genome plays a crucial role in gene regulation. By mapping this architecture and identifying abnormal configurations, EpiSwitch™ can be used to diagnose patients or determine how individuals might respond to a disease or treatment.
 

Built on over 10 years of research, EpiSwitch™ is Oxford Biodynamics' award-winning, proprietary platform that enables screening, evaluation, validation and monitoring of 3D genomic biomarkers. The technology is fully developed, based on testing of over 10,000 samples in 30 disease areas, and reduced to practice.
 

In addition to stratifying patients with respect to anticipated clinical outcome, EpiSwitch™ data offer insights into systems biology and the physiological manifestation of disease that are beyond the scope of other molecular modalities. The technology has performed well in academic medical research settings and has been validated through its integration in biomarker discovery and clinical development with big pharma.
 

Oxford BioDynamics is leveraging its leading technology to develop a pipeline of tests in a wide range of indications, such as COVID-19 severity, immuno-oncology, neurodegenerative and autoimmune diseases.
 

For more information please contact: OxfordBioDynamics@instinctif.com

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Melanie Toyne-SewellManaging Partner