Oxford Biomedica, a prominent gene therapy firm, has announced key changes to its board, highlighting its ongoing evolution.
- The company has appointed Colin Bond, an experienced pharmaceutical executive, as a new board member.
- Bond’s extensive background includes roles at renowned companies like Sandoz, Vifor Pharma, and Evotec.
- The appointment coincides with the resignation of Leone Patterson, who is transitioning to a new role at Zymeworks.
- Founded in 1995, Oxford Biomedica has faced financial challenges, reporting a significant increase in operating losses.
Oxford Biomedica, a leader in gene and cell therapy, is adjusting its leadership structure by adding Colin Bond to its board. Bond, who will officially join in January 2025, brings a wealth of experience from his previous roles, including as chief financial officer at Sandoz. His career beginnings trace back to his time as a pharmacist and management consultant with major firms such as Procter & Gamble and PwC.
Bond’s commitment to the growth of Oxford Biomedica is evident from his statement: “Oxford Biomedica’s position as a leader in cell and gene therapy manufacturing, combined with its innovative approach and strong client partnerships, presents a compelling opportunity that I have recently watched with interest.”
The timing of Bond’s appointment aligns with the departure of Leone Patterson, who is leaving her position as a non-executive board member at Oxford Biomedica. Patterson has taken on new responsibilities as the CFO and chief business officer at Zymeworks. Oxford Biomedica’s chair, Roch Doliveux, acknowledged her contributions, expressing gratitude for her analytical insights during her tenure.
Established in 1995, Oxford Biomedica has played a crucial role in the advancement of gene and cell therapies aimed at treating and preventing diseases. Despite its contributions to the biotech field, the company reported a stark rise in operating losses to £184.2 million for the year ending December 2023, compared to £30.2 million the previous year, with a notable decline in revenue to £89.5 million.
As of 18 November, the company’s share price stood at 410.43p. This financial backdrop sets the stage for Bond’s strategic involvement, as his expertise is expected to aid in navigating the fiscal and operational challenges faced by the company.
Oxford Biomedica’s recent board changes mark a significant step in the company’s strategy to address its financial challenges and reinforce its leadership in gene therapy innovation.
