A darling British biotech that is working on the development of the worlds leading gene therapy for cancer has posted reduced losses and a leap in sales. <\/p>\n
Oxford BioMedica signed a deal worth up to $100m (77m) with Swiss drugs giant Novartis last month to supply cell material for its potential blockbuster treatment, known as CTL019, for a type of leukaemia. <\/p>\n
The living drug was recommended for approval by US regulators in June, with a final determination expected this autumn. <\/p>\n
It would be the first gene therapy for cancer and if approved is expected to generate a spike in revenues for Oxford BioMedica, with the potential for further tie-ups on other cancer treatments. <\/p>\n
Oxford BioMedica is also trialling its lentiviral vectors, which help manipulate genes, in potential treatments for Parkinsons Disease and an eye condition. <\/p>\n
In half-year results today, Oxford BioMedica pared back losses to 2.2m, compared to 6.9m in the red the previous year. Revenues jumped 26pc to 15.7m. <\/p>\n
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Gene therapy darling Oxford BioMedica pares losses - Telegraph.co.uk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" A darling British biotech that is working on the development of the worlds leading gene therapy for cancer has posted reduced losses and a leap in sales. Oxford BioMedica signed a deal worth up to $100m (77m) with Swiss drugs giant Novartis last month to supply cell material for its potential blockbuster treatment, known as CTL019, for a type of leukaemia. Continue reading