Oxford BioDynamics (OBD ) 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.
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."
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