Oxford Biomedica plc, a leading gene and cell therapy group, today announces that Serum Life Sciences Ltd, a subsidiary company of Serum Institute of India Pvt Ltd, has agreed to invest just over £50 million in return for new ordinary shares representing 3.9% of the outstanding shares after the capital increase. The proceeds of the Transaction will be used to fund the development of the fallow area at Oxbox, the Group’s 84,000 sq. ft manufacturing facility based in Oxford, UK, into a flexible advanced manufacturing space and the validation of several independent cGMP suites, expected to come online in mid-2023. Source: Oxford Biomedica press release 22/9/2021