Oxford BioDynamics Plc (AIM: OBD), a global biotechnology company advancing personalized healthcare by developing and commercializing precision medicine tests for life-changing diseases, today announces its final results for the year ended 30 September 2021.
Corporate and operational highlights
• Initial 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)
• Lease and fitout of expanded UK lab and office space (April – September 2021)
• Receipt of prestigious FNIH Partnership for Accelerating Cancer Therapies (PACT) grant award (August 2021)
• Expansion of strategic focus to include development and commercialization of laboratory tests in addition to existing projects with pharma partners (December 2020)
• Strengthening of Senior Management Team and Board, including the appointment of Matthew Wakefield as Non-Executive Chairman (December 2020)
• Revenue of £0.3m (FY20: £0.5m)
• Operating loss of £7.5m (FY20: £5.0m), reflecting planned increased R&D, staff, general and administration costs and depreciation.
• Cash and term deposits of £4.3m as at 30 September 2021 (FY20: £11.5m).
Post-year end highlights
• EpiSwitch® CST (COVID severity test) fully available on market in US (November 2021)
• Raising of £3.6m ($5m) by way of subscription from leading US-based healthcare fund, Armistice Capital Master Fund Ltd (October 2021)
• Opening of US offices in Gaithersburg, Maryland (October 2021)
Commenting on the results, Jon Burrows, Chief Executive Officer of Oxford BioDynamics, said:
“Since embarking on transitioning the Company onto a commercial trajectory last year, 2021 has been a year of necessary fortitude for all at OBD. There were many challenges put before us during the year, exacerbated by the ongoing COVID-19 pandemic. We successfully worked through the myriad operational and logistical frustrations and the EpiSwitch® CST product finally became fully available in November. Indeed, the global team has skilfully used these learnings to finish development and tee up our flagship CiRT (Checkpoint inhibitor Response Test) product for immuno-oncology to hit the market imminently. Our fundamentals as a commercial group are now primed across the pillars of Clinical Diagnostic Testing, Pharma Clinical Development and Life Sciences Research. I firmly believe that in 2022 we will begin to see rewards for the hard work that has been done and I look forward to updating shareholders as the year progresses.”
For the full results statement, please visit the Company's website: www.oxfordbiodynamics.com.
Notice of Annual General Meeting
The Company's Annual General Meeting will be held at 3140 Rowan Place, John Smith Drive, Oxford Business Park South, Oxford, OX4 2WB, UK on 30 March 2022 at 12.00 pm.
The information included in this announcement is extracted from the Annual Report, which was approved by the Directors on 24 January 2022. 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 which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310) ("UK MAR"). Upon the publication of this announcement, this inside information (as defined in UK MAR) is now considered to be in the public domain.
For more information please contact: OxfordBioDynamics@instinctif.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 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 EpiSwitch® CiRT (Checkpoint Inhibitor Response Test), a predictive immune response profile for immune checkpoint inhibitor treatments, to be officially launched in early 2022.
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.
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).
Melanie Toyne-SewellManaging Partner