- OXB has raised £60 million ($81.4 million) through a share placement to support U.S. expansion and strategic investments.
- The CDMO expects to generate up to £170 million ($230 million) in revenue in 2025, with new investments contributing from 2026.
OXB, the cell and gene therapy-focused contract development and manufacturing organisation (CDMO), has raised £60 million ($81.4 million) through a share placement to support its U.S. expansion plans.
The company issued more than 12.2 million new shares at £4.31 ($5.85) per share, representing a 1.93% discount to its August 14 closing price. Existing shareholders also acquired an additional 1.7 million shares at the same rate.
OXB said the proceeds will be directed toward “strategic investments” in U.S. commercial-scale capacity to meet rising client demand across clinical phases and commercial supply. CEO Frank Mathias stated: “This placing represents a compelling opportunity to fund expansion of commercial-scale capabilities in the U.S. alongside other strategic investments in order to meet growing client demand.”
The company’s Bedford, Massachusetts site currently includes four vector substance suites and one vector production suite within a 96,000-square-foot facility. OXB aims to expand its offering into an end-to-end CDMO service by adding fill-finish capabilities alongside drug substance manufacturing.
Alongside the U.S. expansion, OXB operates two facilities in France and one in the U.K. It expects new investments to begin contributing revenue in 2026, with overall company revenue projected at £160 million to £170 million ($217 million–$230 million) in 2025. In 2023, OXB expanded its viral vector expertise by acquiring French CDMO ABL Europe for €15 million ($16 million).
