OXGENE™ has leading expertise in gene therapy, gene editing and antibody discovery. Its expert teams excel in mammalian cell engineering solutions, coupled with bioinformatics and automation to build robust and efficient biotechnology solutions. OXGENE™ is a trading name of Oxford Genetics LTD
Rationale for Investment
Opportunity to accelerate the discovery, development and manufacture of new cell and gene therapies. OXGENE’s technologies and solutions aim to reduce the overall cost of goods involved in the manufacture of these new treatment types and so increase patient accessibility.
Exit – March 2021
Mercia held a 32.1% direct holding in OXGENE at the date of completion and will receive cash proceeds of £30.7million, its largest cash exit to date. The sale results in a realised gain of £14.6million above the £16.1million direct investment holding value as at 30 September 2020. The sale has generated a 5x return on Mercia’s direct investment cost of £6.1million and a 51% internal rate of return (“IRR”).