Oxford BioDynamics  to ‘significantly’ expand UK facilities

Francesca Morgan
Francesca Morgan
Vox Newswire
10:48, 9th April 2021

Oxford BioDynamics (OBD FOLLOW) has signed a lease agreement for new laboratory and office space at Oxford Business Park which it intended to significantly expand its UK facilities. 

The biotechnology company said the 24,000 sq ft premises will house its growing UK infrastructure as it executes its expanded strategic focus it outlined back in December 2020. 

The Company highlighted to investors that the larger space will allow it ‘to operate independent processing lines for commercial test development and product support, biomarker discovery contracts, clinical trial support and internal R&D projects.’ 

The facility will also provide custom-designed space for product manufacturing, sample and consumables storage, as well as offices and meeting rooms to accommodate its UK team. 

While the financial details of the lease agreement were not disclosed in its statement, the Company unveiled that development work is expected to be completed in late July 2021.  

Shares in Oxford BioDynamics have increased by nearly 5% since the beginning of the year. The stock was trading 1.19% lower this morning at 92.3p following the announcement. 

OBD price chart

Today’s news follows the recent launches of OBD's EpiSwitch® CST (Covid Severity Test), an advanced blood test that measures YOUR likelihood of a severe response if you are infected by SARS-CoV-2, as well the Company’s 3D genome profiling EpiSwitch® Explorer Array Kit.  

Commenting on this morning’s news, Dr Jon Burrows, CEO of Oxford BioDynamics said: "This new lease comes at an exciting time for OBD, following the launch of both our prognostic test for COVID-19 severity and the EpiSwitch® Explorer Array Kit. It marks the next important step of the continued roll-out of our expanded strategic focus.” 

He added, “We moved into our current reference laboratory on the Oxford Business Park in 2015 and expanded it in 2018; this new lease reflects the next stage of our growth.  

We enjoy excellent support from our landlord, Arlington, and the team at the Business Park. We are very happy to be staying with them as we grow." 

Follow News & Updates from Oxford BioDynamics here: FOLLOW

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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