€60M Investment to Boost Oxford Biomedica’s Gene and Cell Therapies

The investment will bag Novo Holdings a stake of up to 10.1% in the UK biotech. Oxford Biomedica will use the money to repay a loan totalling €49M ($55M) from the US company Oaktree Capital Management, and to develop its gene therapy technology.Oxford Biomedica’s most advanced gene therapies include a treatment for the eye condition age-related macular degeneration, currently at phase I, and a treatment for corneal graft rejection, which is beginning a phase I/II trial. The company is also leveraging the technology to develop a CAR T-cell therapy to fight cancer, currently in preclinical development.