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Oxford BioDynamics Plc - Half Year Results

Oxford BioDynamics Plc - Half Year Results

Oxford, UK – 15 June 2021 – Oxford BioDynamics Plc (AIM: OBD, the Company), a biotechnology company developing precision medicine tests for personalized healthcare based on the EpiSwitch® 3D genomics platform today announces its interim results for the six-month period to 31 March 2021.


CORPORATE AND OPERATIONAL HIGHLIGHTS

  • Launch of EpiSwitch® CST (COVID-19 Severity Test) (March 2021)
  • Launch of EpiSwitch® Explorer Array Kit allowing researchers to access OBD’s EpiSwitch® technology platform (March 2021)
  • Expansion of strategic focus to include development and commercialization of laboratory tests (announced December 2020)
  • Strengthening of the Senior Management Team and Board, including the appointment of Matthew Wakefield as Non-Executive Chairman (December 2020)


FINANCIAL HIGHLIGHTS

  • Revenue of £0.25m (H1 2020: £0.19m)
  • Operating loss of £3.5m (H1 2020: £2.4m)
  • Cash and term deposits of £8.1m as at 31 March 2021 (31 March 2020: £13.9m, 30 September 2020: £11.5m)
     

POST-PERIOD END

  • Signing of new lease agreement to expand core UK infrastructure and receipt of £2.5m in lease incentives
     

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

“The OBD team achieved a tremendous amount over the first half of the year: we developed and executed our expanded strategy, culminating in the successful launch of the EpiSwitch® CST COVID-19 Severity Test and the EpiSwitch® Explorer Array Kit. The Group continues to make excellent progress in commercializing our pipeline: we look forward to growing sales and entering the Immuno-Oncology (IO) market with the launch of our Universal Immuno-Oncology (IO) Response Test by the end of the financial year. Additionally, we continue to invest considerable time and effort in market research to determine the most promising and lucrative market opportunities for 2022 onwards from our available product development pipeline. Our current attention converges on the fields of prostate cancer, colorectal cancer and veterinary medicine.”


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.


For the full results statement, please visit the Company's website: www.oxfordbiodynamics.com.


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.


In March 2021, the Company launched its first commercial prognostic test, EpiSwitch® CST (Covid Severity Test) and the first commercially available microarray kit for high-resolution 3D genome profiling and biomarker discovery, EpiSwitch® Explorer Array Kit. Its next product will be a predictive immune response profile for immuno-oncology (IO) checkpoint inhibitor treatments, to be launched later in 2021.


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 AIM of the London Stock Exchange. 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 immuno-oncology, oncology, and veterinary medicine, to follow the release of its EpiSwitch® CST (Covid Severity Test).


A copy of this announcement is available on the Company’s website at www.oxfordbiodynamics.com.


This announcement includes "forward-looking statements" which include all statements other than statements of historical facts, including, without limitation, those regarding the Group's financial position, business strategy, plans and objectives of management for future operations, and any statements preceded by, followed by or that include forward-looking terminology such as the words "targets", "believes", "estimates", "expects", "aims", "intends", "will", "can", "may", "anticipates", "would", "should", "could" or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Group's control that could cause the actual results, performance or achievements of the Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Group's present and future business strategies and the environment in which the Group will operate in the future. These forward-looking statements speak only as at the date of this announcement. The Group expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, readers are cautioned not to rely on any forward-looking statement.  

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Melanie Toyne-SewellManaging Partner