BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Oxford Biomedica plc (OXB.L) said Serum Life Sciences Ltd, a unit of Serum Institute of India, has agreed to invest just over 50 million pounds in the Group in return for new ordinary shares representing 3.9% of the outstanding shares after the capital increase.
Oxford Biomedica will use the proceeds to fund the development of the fallow area at Oxbox, the Group's manufacturing facility based in Oxford, UK, into an advanced manufacturing space and the validation of several independent cGMP suites, expected to come online in mid-2023.
Adar Poonawalla, CEO of Serum Institute of India, said: 'Serum Life Sciences is delighted to have a strategic partnership with Oxford Biomedica, with the objective of building long term capacity in the UK.'
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