Oxford Biomedica plc (LSE:OXB)'s shares jumped as much as 16% on September 20, 2023 after the British cell and gene therapy company said it would break even earlier than expected and that it was in exclusive talks to buy viral vector manufacturing firm ABL Europe. The gains came after Oxford Biomedica said it now expects operating core profit to broadly break even by the end of 2024, rather than the first half of 2025. Oxford Biomedica also said it had entered exclusive talks with Institut Mérieux SA to acquire the French holding company's viral vector manufacturing firm ABL Europe for EUR 15 million (about USD 16 million).

As part of the deal, Institut Merieux will pour another EUR 20 million in future funding into ABL by subscribing to Oxford Biomedica's shares.