MARKET TALK: Ambrian Starts Oxford BioMedica At Buy

24th Jun 2010 08:23

0723 GMT [Dow Jones] Ambrian initiates coverage of Oxford BioMedica (OXB.LN) with a buy rating, and fair value of 24p. Analyst Chris Redhead is confident the biotechnology company can secure a deal for its experimental Parkinson's disease treatment ProSavin within nine months. Adds investors can also expect to see data from a promising eye disease program with Sanofi-Aventis (SAN.FR) in 2011. Redhead says the company is adequately-financed, with GBP25.3 million in the bank, but this isn't reflected in its share price. The company's gene therapy technology is "ground-breaking," he says. Shares flat at 11.5p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 24, 2010 03:23 ET (07:23 GMT)