StockMarketWire.com - Gene therapy group Oxford Biomedica said Boehringer Ingelheim had exercised an option to license its technology to make a treatment for cystic fibrosis.

The German pharmaceutical giant would pay Oxford Biomedica an option exercise fee of £3.5 million.

Oxford Biomedica's lentiviral vector technology to manufacture, register and commercialise BI 3720931, a lentiviral vector-based gene therapy for the treatment of cystic fibrosis (CF).

Oxford Biomedica was further entitled to development, regulatory and sales milestones of up to a further £27.5 million.

That was in addition to a tiered low single-digit royalty on net sales of a gene therapy product.

The option exercise followed another recent signature of a development and supply agreement announced in April, relating to the clinical manufacture of various types of viral vector based products.


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