Oxford, UK - 13 September 2016: Oxford BioMedica plc ("Oxford BioMedica" or the "Company", together with its subsidiaries, the "Group") (LSE: OXB), a leading gene and cell therapy group, is pleased to announce that it intends to raise net proceeds of £10 million by the issue of 184,255,000 New Ordinary Shares by means of a Placing and 199,116,665 New Ordinary Shares by means of a Subscription at a price of 3 pence per New Ordinary Share. The Offer Price of 3 pence per New Ordinary Share represents a 28.6 per cent. discount to the Closing Price of 4.2 pence on 12 September 2016 (being the last practicable date prior to the announcement of the Fundraising).


Jefferies International Limited (''Jefferies'') is acting as Sponsor, Global Co-ordinator and Bookrunner for the Company, WG Partners LLP (''WG Partners'') and Scott Harris UK Limited ("Scott Harris") are acting as UK Placement Agents and Roth Capital Partners, LLC (''Roth Capital'') is acting as US Placement Agent for the Company in connection with the Fundraising.

TRANSACTION SUMMARY

Issue of 184,255,000 New Ordinary Shares by means of a placing (the "Placing") and 199,116,665 New Ordinary Shares by means of a subscription (the "Subscription").
The Offer Price of 3 pence per New Ordinary Share (the "Offer Price") represents a 28.6 per cent. discount to the Closing Price of 4.2 pence on 12 September 2016 (being the latest practicable date prior to this announcement).
The Placing has been fully underwritten by Jefferies. The Subscription is not underwritten. Pursuant to Subscription Agreements with the Company, Subscribers have subscribed for the Subscription Shares at the Offer Price.
Vulpes Life Sciences Fund has agreed to subscribe for 66,666,667 New Ordinary Shares as part of the Subscription at the Offer Price and Vulpes Testudo Fund has agreed to subscribe for 33,333,333 New Ordinary Shares as part of the Subscription at the Offer Price. Both Vulpes Life Sciences Fund and Vulpes Testudo Fund are managed by Vulpes Investment Management of which Martin Diggle, a Non-executive Director of the Company, is a founder. Vulpes Life Sciences Fund and Vulpes Testudo Fund's participation in the Subscription constitutes a ''related party transaction'' for the purposes of Chapter 11 of the Listing Rules (the "Related Party Transaction").
The Fundraising, the Offer Price and the Related Party Transaction are conditional, inter alia, on shareholder approval. A General Meeting of the Company (the "General Meeting") is expected to be convened for 10.00 am on 29 September 2016.
The principal purposes of the Placing and Subscription are to:
further progress its discovery and pre-clinical projects with the objective of identifying at least one new product into clinical development within a two year horizon;
continue to develop valuable intellectual property relating to the LentiVector® platform; and
to provide the Group with working capital whilst it continues to grow its bioprocessing revenues.
The Prospectus (including Notice of General Meeting) containing full details of the Fundraising is expected to be posted to shareholders shortly. Terms capitalised in this announcement have the meaning given to them in the Prospectus.


John Dawson, Chief Executive Officer of Oxford BioMedica, said:

"Oxford BioMedica is increasingly recognised as a world-leading gene and cell therapy company with a pipeline of highly valuable and attractive clinical assets coupled with leading bioprocessing expertise in the field of lentiviral vectors, all underpinned by our broad intellectual property position.

"We would like to thank our major shareholders for their continued support and also welcome and express our gratitude to Green Cross, who are already an R&D collaborator with the Group, and who have now taken an equity stake in the Company.

"The new funds raised will enable us to progress our discovery and pre-clinical projects, develop valuable intellectual property relating to the LentiVector® platform and provide working capital for the Group to generate demand for our bioprocessing capabilities that will accelerate the growth of revenues. We believe we are an excellent position to progress our partners' programmes, secure further partnerships and advance our in-house pipeline through out-licensing or spin outs. We look forward to the future with great confidence."


This announcement contains inside information.

To download the full press release and details of this proposed fundraising click here

For further information, please contact:

Oxford BioMedica
John Dawson, Chief Executive Officer
Tim Watts, Chief Financial Officer
Tel: +44 (0)1865 783 000

Jefferies (Sponsor, Global Co-Ordinator and Bookrunner)
Gil Bar-Nahum
Simon Hardy
Lee Morton
Max Jones
Nicholas Moore
Tel: +44 (0)20 7029 8000

WG Partners (UK Placement Agent)
David Wilson
Claes Spång
Tel: +44(0)20 3705 9330

Scott Harris UK Limited (UK Placement Agent)
Alice Squires
Jamie Blewitt
Tel: +44 (0) 20 7653 0030

Financial and corporate communications enquiries:

Consilium Strategic Communications
Mary-Jane Elliott/Matthew Neal/Chris Welsh/Laura Thornton
Tel: +44 (0)20 3709 5700

Oxford BioMedica plc published this content on 13 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 September 2016 10:50:03 UTC.

Original documenthttp://www.oxfordbiomedica.co.uk/blog/proposed-fundraising-of-ps10-million-by-way-of-a-placing-subscription-and-related-party-transaction/

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