Serum Institute to invest £50 million in UK’s Oxford Biomedica

Serum Life Sciences Limited (SLS), a subsidiary of Serum Institute of India Pvt Ltd, has made an investment of just over £50 million in the Group in exchange for new ordinary shares representing 3.9% of the outstanding shares after a capital increase. Agreed,” Oxford Biomedica said on Wednesday.

The subscription price per new ordinary share to be paid by SLS is equal to the closing mid-market price on Tuesday, September 21, 2021.

Oxford Biomedica said the proceeds of the transaction will be used in Oxbox, the group’s 84,000-square-foot manufacturing facility in the UK, for the development of the fallow area in Oxbox, a flexible advanced manufacturing space.

Investment from SLS, a company set up to market coronavirus disease vaccines manufactured by the Serum Institute of India, allowed Oxford Biomedica to continue expanding the capacity of the group’s world-class facilities in anticipation of growing world demand. Will give-leading capabilities, the company said.

Adar Poonawalla, Chief Executive Officer, Serum Institute of India, said, “Serum Life Sciences is delighted to have a strategic partnership with Oxford Biomedica with the aim of building long-term capacity in the UK.”

Oxbox was constructed by the group during 2019 and is in its first phase of development, totaling 45,000 square feet, comprising four (good manufacturing practice) GMP manufacturing suites, two fill and finish suites and ancillary areas such as warehouses, cold chain facilities and Were. Quality Control (QC) Laboratories.

Three suits are currently dedicated to the production of the COVID-19 vaccine and one suite is producing lentiviral vector-based products for the group’s other partners.

The remaining 39,000 square feet will be developed using the proceeds of the transaction to allow for flexible expansion and use. This is expected to include manufacturing capacity for viral vector-based products, including vaccines, the UK BEd firm said in a statement.

“We are delighted that Serum Life Sciences Limited, a subsidiary of Serum Institute of India, has made this strategic investment in Oxford Biomedica. We have played a big part in the fight, and we look forward to a strong and cooperative relationship.

“This investment will allow us to expand capacity at Oxbox at a time when our business development pipeline has never looked stronger, and in addition, we expect it to create 120 new, highly skilled, jobs. We look forward to maximizing the many opportunities ahead, and continue to achieve our mission of delivering life-saving treatment to patients with the support and collaboration of Serum Life Sciences Limited,” Dawson said.

Under the membership agreement entered into by SLS and Oxford Biomedica, SLS has agreed to subscribe to 3,382,950 new ordinary shares of 50 pence in Oxford Biomedica at £14.78 per share.