Oxford Biomedica Completes Acquisition of US Subsidiary
Why we think this is neutral
The RNS announcement is a general update on the completion of the acquisition of the remaining stake in the company's US subsidiary. While this is a positive development for the company's global strategy, it does not contain any of the mandatory news types that would warrant a stronger sentiment score.
Key Points
- OXB has acquired the remaining 10% stake in its US subsidiary, OXB US LLC, from Q32 Bio, Inc.
- The US facility in Bedford, MA, was established in 2022 as an AAV manufacturing and innovation business and has been integrated into OXB's global network
- The acquisition strengthens OXB's position in the US market and helps meet growing demand for high-quality vector manufacturing
Summary
The biotechnology company has completed the acquisition of the remaining 10% stake in its US subsidiary, aligning with its global strategy and supporting growth in the viral vector manufacturing market.
Oxford Biomedica PLC (OXB) has acquired the remaining 10% stake in its US subsidiary, OXB US LLC, from Q32 Bio, Inc. This brings OXB's ownership of the US subsidiary to 100%. The US facility, located in Bedford, MA, was originally established in 2022 as an AAV manufacturing and innovation business. It has since been fully integrated into OXB's global network and has supported the onboarding of multiple new programmes.
GENERAL UPDATE