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Oxford BioMedica plans £20.5M placement to expand bioprocessing facilities

Oxford BioMedica PLC is planning to raise about about £20.5 million in gross proceeds via a conditional placement of its ordinary shares to fund the expansion of its bioprocessing facilities.

The Oxford, U.K.-based gene and cell therapy company will issue about 174,346,817 ordinary shares at a 11.75 pence per share through a conditional placing with new and existing investors.

Oxford BioMedica plans to use the net proceeds to expand its bioprocessing facilities to include four new good manufacturing practices vector suites, fill and finish suites, and warehouse and office space.

The shares are expected to be admitted on the London Stock Exchange on March 14, but not later than March 28.

Peel Hunt LLP and WG Partners LLP are acting as joint book runners for the placement.