Oxford Biomedica eyes global market amid hawkish trends

For the fiscal year ending March 31, 2024, the cell and gene therapy (CGT) CDMO reported total revenues of £89.5 million ($111 million), a 36% decrease year-on-year. However, order intake increased to £131 million ($163 million) in 2023 as compared to £85 million ($106 million) previously.

For FY 2024, the CDMO expects a year of growth as it focuses on adeno-associated virus (AAV) and lentiviral vectors anticipating a revenue between £126 million ($157 million) and £134 million ($167 million). To support this ambition, the UK-based firm has launched the One OXB strategy to increase efficiency.

“For aligning our footprint in the UK, the US and EU, we have put in place our new One OXB strategy to harmonize and optimize our operations so that we can benefit from increased efficiency and agility,” said Frank Mathias, CEO of Oxford Biomedica.

Treading the path to recovery, the One OXB strategy includes the conclusion of workforce reorganization across the UK and the US to meet the needs of a CDMO and move towards a “site-based model.”

“We have laid down different initiative, on refocus on six strategic pillars to integrate and transform the company. Within these six strategic pillars, we have structured 20 work streams, globally aligned with different experts from the different geographies which focus on leading the transformation of the organization to become a pure-play CDMO with a global network,” said Thierry Cournez, chief operating officer (COO) of Oxford Biomedica.

The firm has facilities in Oxford, UK and near Boston, Massachusetts (US). The CDMO has further expanded its presence across the US and EU with the acquisition of a site in Bedford, Massachusetts and two sites in Lyon and in Strasbourg (both in France) with the acquisition of ABL Europe.

Citing an era of growth, CCO Sébastien Ribault said, “It was important to add some new capabilities [...] which was one of the drivers of the acquisition of the two new sites in Lyon and Strasbourg that we acquired from ABL Europe. The geographical location was one of the drivers, and increasing the number of vectors that we can deliver was another.”

“If we're looking at the market as it is today, we're shy of $3 billion market size with a growth that is estimated between 2024 and 2028 of about 20% year-on-year to reach almost $6 billion in 2028. Interestingly, the three key segments that we're serving, AAVs, lentiviral vectors, and adeno keep growing. And not only do they grow in the US and in Europe, but they also grow in Asia. And that is the reason why we wanted to make sure we would have enough capacity to serve the clients wherever they are that drove the acquisitions.”