Mercia Asset Management PLC Announcement of significant contract for OXGENE
September 25 2019 - 1:01AM
RNS Non-Regulatory
TIDMMERC
Mercia Asset Management PLC
25 September 2019
RNS REACH 25 September 2019
Mercia Asset Management PLC
("Mercia")
Announcement of significant contract for OXGENE(TM)
Mercia Asset Management PLC (AIM: MERC), the proactive,
regionally focused specialist asset manager, is pleased to confirm
that its portfolio company OXGENE(TM) ("OXGENE"), formally known as
Oxford Genetics, has augmented its relationship with one of the
world's leading global life science companies, Abcam plc.
This expanded agreement, which follows an earlier deal announced
in August 2018, will see OXGENE deliver at least 1,000 engineered
cell lines over the next three years to support Abcam in its
delivery of highly validated biological binders and assays, and to
expand its catalogue of off-the-shelf edited cell lines.
OXGENE's high throughput gene editing platform integrates
bioinformatics and automation for fast, efficient gene editing
using CRISPR technology. Platform automation eliminates human error
and improves reproducibly, while the rapid generation of custom
cell lines brings scale and quality to gene editing projects.
Cheri Walker, SVP of Corporate Development at Abcam plc said,
"We have enjoyed great service from OXGENE and this expanded
agreement complements our recent acquisition of the largest
portfolio of diploid knock-out cells. We are excited about working
with OXGENE to further realise our commitment to provide the best
quality antibodies in the market using knock-out validation, in
addition to expanding our edited cell line product portfolio."
Ryan Cawood, CEO at OXGENE said, "I'm particularly proud of our
CRISPR based Gene Editing platform. We have proven our ability to
take complex processes and deliver innovative and effective
solutions. Technology-enabled scientific innovation is at the heart
of what we do at OXGENE and it is a great achievement to have Abcam
endorse what we have built thus far."
Dr Mark Payton, CEO of Mercia Asset Management PLC and
non-executive director of OXGENE said, "OXGENE epitomises a truly
disruptive approach and is building an impressive reputation with
numerous commercial partnerships such as the one with Abcam. We
have backed the company since the very start and are delighted to
be involved in their journey as they continue to grow their
position in the global multi-billion-dollar life sciences
market."
For further information, please contact:
Mercia Asset Management PLC +44 (0)330 223 1430
Mark Payton, Chief Executive Officer
Martin Glanfield, Chief Financial
Officer
www.mercia.co.uk
Canaccord Genuity Limited +44 (0)20 7523 8000
Simon Bridges, David Tyrrell (NOMAD
and Broker)
Buchanan +44 (0)20 7466 5000
Chris Lane, Vicky Haynes, Stephanie
Watson
www.buchanan.uk.com
About Mercia Asset Management PLC
Mercia is a proactive, specialist asset manager focused on
supporting regional SMEs to achieve their growth aspirations.
Mercia provides capital across its four asset classes of balance
sheet, venture, private equity and debt capital; the Group's
'Complete Capital Solution'. The Group initially nurtures
businesses via its third-party funds under management, then over
time Mercia can provide further funding to the most promising
companies, by deploying direct investment follow-on capital from
its own balance sheet.
The Group has a strong UK regional footprint through its eight
offices, 19 university partnerships and extensive personal
networks, providing it with access to high-quality deal flow.
Mercia has over GBP500million of assets under management and, since
its IPO in December 2014, has invested over GBP84million across its
direct investment portfolio.
Mercia Asset Management PLC is quoted on AIM with the epic
"MERC".
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END
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