Novo's in­vest­ment arm in­jects $67.5M in Ox­ford Bio­med­ica; Aba­cus Med­i­cine de­lays IPO plans

→ The in­vest­ment arm of Dan­ish drug­mak­er No­vo Nordisk $NVO is in­vest­ing £53.5 mil­lion (about $67.5 mil­lion) in UK-based gene and cell ther­a­py group Ox­ford Bio­med­ica (LSE:OXB), in ex­change for 10.1% of the com­pa­ny’s out­stand­ing shares. Ox­ford, which has part­nered with No­var­tis $NVS and Sanofi $SNY, as well as out-li­cens­ing of an as­set to Ax­o­vant $AXGT, will use the pro­ceeds to re­pay its debt and fund the de­vel­op­ment of its LentiVec­tor plat­form, the com­pa­ny said on Wednes­day.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER