Issue Date: March 19, 2007
Oxford Biomedica Buys Vaccine Firm
Oxford BioMedica will pay roughly $31 million for Oxford, England-based immunotherapy company Oxxon Therapeutics. Oxford gains access to Oxxon's lead cancer vaccine, Hi-8 MEL, which recently completed Phase II trials for melanoma. The vaccine complements Oxford's TroVax cancer immunotherapy, currently in Phase III trials for kidney cancer. The deal also bolsters Oxford's immunology intellectual property portfolio and infectious disease drug pipeline, while adding almost $6 million in cash to its balance sheet.
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