LONDON, UK: Oxford Biomedica has entered into an agreement with Homology Medicines Inc. to acquire an 80 per cent ownership interest in a newly formed AAV focused manufacturing and innovation business, Oxford Biomedica Solutions LLC or Oxford Biomedica Solutions’ AAV Manufacturing and Innovation Business, at an implied pre-money enterprise value of approximately $175 million.

Oxford Biomedica, a leading cell and gene therapy group, announced, a conditional offer for subscription via PrimaryBid of new ordinary shares of 50 pence each in the capital of the company.

In addition, the company has also announced that it proposes to raise total gross proceeds of approximately £80 million. The equity financing will be conducted through a bookbuilding process.

At completion, the net proceeds will allow the company to acquire the 80 per cent ownership interest in newly-formed Oxford Biomedica Solutions’ AAV Manufacturing and Innovation Business for a US$130 million (£97 million) cash consideration payable to Homology and a US$50 million (£37 million) capital injection into Oxford Biomedica AAV Manufacturing and Innovation Business to fund growth.

The Company values its retail investor base and is therefore pleased to provide private and other investors the opportunity to participate in the Retail Offer by applying exclusively through the PrimaryBid mobile app available on the Apple App Store and Google Play. PrimaryBid does not charge investors any commission for this service.

The Retail Offer, via the PrimaryBid mobile app, will be open to individual and institutional investors following the release of this announcement. The Retail Offer is expected to close at the same time as the Bookbuild. The Retail Offer may close early if it is oversubscribed.

The Company reserves the right to scale back any order at its discretion. The Company and PrimaryBid reserve the right to reject any application for subscription under the Offer without giving any reason for such rejection.