Cell & Gene Therapy Contract Development and Manufacturing Organisation (CDMO)
Strategic Profile
Oxford Biomedica is doubling down on its standalone strategy in viral vector contract manufacturing, pointing to strong demand, a robust pipeline and scalable capabilities. Under a new agreement with Bristol Myers Squibb, OXB is expected to commence commercial manufacturing in 2026 at facilities in Oxford, UK, and Durham, NC, US.
Cyborg Score Rationale
Half-year 2025 revenues grew over 40% to £70–73 million with order intake of £149 million against £56 million a year earlier. FY 2025 contracted value of client orders increased 20% to £224 million. However, ongoing losses and negative cash flows constrain valuations despite strong recent revenue growth.
Top Insights
EQT has withdrawn its takeover offer after the board rejected four acquisition proposals, with the board concluding proposals undervalued the company.
Commercial manufacturing with Bristol Myers Squibb on BMS CAR-T programmes subject to regulatory approval is expected to commence in 2026.
OXB raised £60 million in August 2025 and secured a new loan facility to fund expansion of US commercial-scale GMP capacity.
OXB was ranked 34th out of 300 organisations in Fortune's list of Europe's most innovative companies.
Named Competitors
AAV/Lentiviral Vector Manufacturing — Global CDMO competitor in viral vector manufacturing