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Hi-8 MEL

Oxford BioMedica plc

Drug Names(s): Hi-8 MEL

Description: Hi-8 MEL is a therapeutic vaccine for metastatic melanoma. The product consists of two recombinant vectors, a plasmid DNA and a non-replicating Modified Vaccinia Ankara (MVA) virus. Both vectors encode the Mel3 polyepitope string derived from five different melanoma-associated antigens. Administration of the two recombinant vectors in a heterologous prime-boost format is designed to induce broad melanoma-specific CD8+ T-cell responses.

Deal Structure: Hi-8 MEL was originally developed by Oxxon Therapeutics.

In March 2007, Oxford Biomedica acquired Oxxon. The transaction is valued at GBP16 million, to be satisfied by the issue 27,551,628 Oxford BioMedica shares to Oxxon shareholders for the entire share capital of Oxxon and 4,219,618 shares for the repayment of a loan from Oxxon shareholders to Oxxon. The number of shares to be issued has been determined by a reference price of 50.36p per share, being the average closing price of Oxford BioMedica shares over the last 30 days to March 8, 2007.

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