Oxford Biomedica funded through to 2012

14th May 2009 15:36

Gene therapy company Oxford Biomedica said all patients treated thus far in its Phase I/II trial of ProSavin, its Parkinson's disease treatment, have shown an encouragement improvement in their motor functions.Current plans are to complete the trial in the second half of 2010 and thereafter advance directly to a registration Phase II/III trial.The company said its ocular collaboration with Sanofi-aventis and the termination of the collaboration with the same company on TroVax, the company's cancer treatment, will have a significant positive effect on this year's results.Recognised revenue for 2009 is expected to be in the region of £20m, up from £18m in 2008. This revenue uplift, along with the company's cost cutting measures, should see the company's activities financed into 2012, an improvement on the previous guidance which suggested the money would start to run out in 2011.