Oxford BioMedica plans to acquire Oxxon Therapeutics in a stock-for-stock transaction valued at GBP16 million, or over $38.8 million. Oxford BioMedica is focused on gene-based therapeutics particularly in oncology and neurotherapy. "The acquisition expands our immunotherapy pipeline and strengthens our intellectual property position in the field of immunology,” says Alan Kingsman, chief executive of Oxford BioMedica.
“Oxxon's Hi-8® MEL vaccine has generated encouraging Phase II results as a treatment of advanced melanoma. The market opportunity for an effective melanoma vaccine is substantial.” Hi-8 MEL is complementary to Oxford BioMedica’s immunotherapy, TroVax, which cannot be developed for melanomas. TroVax is targeted at solid tumor types. Clinical development is ongoing in renal cell carcinoma, colorectal cancer, and prostate cancer and is planned in breast cancer.