Oxford Biomedica, the cell and gene therapy pioneer, is undergoing significant board changes.
- Colin Bond, previously with Sandoz, joins the Oxford Biomedica board in January 2025.
- Leone Patterson departs from her role to pursue her career at Zymeworks.
- Oxford Biomedica announced an operating loss of £184.2m for the last financial year.
- The company’s revenue saw a significant drop, affecting its market performance.
The biopharmaceutical firm Oxford Biomedica, known for its advancements in gene and cell therapy, has announced several leadership changes. Colin Bond, who has held significant roles in the pharmaceutical industry, including his tenure as chief financial officer at Sandoz, will join the board in January 2025. Bond expressed enthusiasm about joining a company poised to lead in life-changing therapies.
Leone Patterson, who contributed valuable insights during her tenure, is resigning from the board to focus her efforts on her new position as CFO and chief business officer at Zymeworks. Oxford Biomedica’s chair, Roch Doliveux, acknowledged her contributions and wished her well in her future endeavours.
Despite its promising industry standing, Oxford Biomedica is facing financial challenges. The company reported an operating loss of £184.2 million for the year ending December 2023, a stark increase from the previous year’s loss of £30.2 million. This significant financial downturn has coincided with a 33% decrease in revenue, amounting to £89.5 million.
The market performance of Oxford Biomedica has been impacted as a result of these financial outcomes, with shares priced at 410.43p as noted in mid-November. The firm, established in 1995 and publicly listed in 1996, continues to navigate the complexities of the biotechnology space, focusing on treating and preventing diseases through innovative therapies.
Oxford Biomedica’s strategic board changes indicate a focused approach towards overcoming recent financial challenges and sustaining its pioneering role in therapeutic innovations.
