Leading life sciences company Oxgene has more than doubled its annual revenue in the financial year just closed, in the third consecutive year of 100 per cent year on year revenue growth.
The Oxford Science Park-based gene therapy company uses its expertise in mammalian cell engineering to develop novel technology platforms that facilitate the discovery, development and manufacture of new biologics.
The company says this year’s success has been fuelled by strategic licensing agreements and service delivery projects and it has also signed multiple other licensing agreements with companies in the US, Asia and Europe.
Oxgene joined the fight against COVID-19, initiating a number of projects to contribute to diagnostic, vaccine and therapeutic programmes, including entering a collaboration with Kidlington-based The Native Antigen Company to scale up manufacture of COVID19 antigens. The company enters the new financial year fresh from the completion of a successful fundraising round from existing investors, including Warwickshire-based Mercia Asset Management, which completed a £1 million investment as part of a £3.0million funding commitment, alongside Canaccord Genuity Wealth Management.
Jo Bath, Oxgene’s Chief Operating Officer said: “Oxgene has once again more than doubled its revenue, with less than a 50% increase in headcount. This is testament not only to the hard work and effective management of our team here, but also to the strength of our automation platform, and our focussed, but flexible, approach to business and technology development.”
She continued: “This has been a year of continued growth and transition as we have established ourselves as a leading life sciences solutions provider. We’re extremely proud of everything we’ve accomplished this year, and look forward to introducing more innovative, game changing technologies to market in the year ahead.”