MERC Mercia Asset Management Plc

TIDMMERC

Mercia Asset Management PLC

06 May 2020

RNS Reach 6 May 2020

Mercia Asset Management PLC

("Mercia", the "Company" or the "Group")

Mercia invests GBP1.0million as part of a GBP3.0million syndicated investment into OXGENE (TM)

Mercia Asset Management PLC (AIM: MERC), the proactive, regionally focused specialist asset manager, is pleased to announce that it has completed a GBP1.0million investment into OXGENE(TM) ("OXGENE(TM)" is the trading name of Oxford Genetics Limited) as part of a GBP3.0million funding commitment, alongside Canaccord Genuity Wealth Management.

OXGENE(TM) combines precision engineering, biology, robotics and bioinformatics to accelerate the design, discovery and manufacture of new biologics. Working across the fields of gene therapy, gene editing and antibody therapeutics, OXGENE(TM) has worked with global partners including Abcam plc for the delivery of over 1,000 CRISPR engineered cell lines, Artios Pharma, who are developing breakthrough cancer treatments, and The Native Antigen Company (also a Mercia direct investment) to accelerate the production of COVID-19 antigens.

In addition, OXGENE(TM) has signed eight separate licence agreements providing access to its technology and recently announced a strategic partnership with FUJIFILM Diosynth Biotechnologies, a world leading cGMP contract development and manufacturing organisation, to support its partners in the development and production of biologics, vaccines and gene therapies.

The synthetic biology market in which OXGENE(TM) operates is estimated to grow from US$5.3billion in 2019 to US$18.9billion by 2024. (Source: BCC Research)

Jo Bath, Chief Operations Officer of OXGENE (TM) , said:

"Over the course of this financial year, OXGENE(TM) has once again more than doubled its revenue, with less than a 50% increase in headcount. This is testament not only to the hard work and effective management of our team, but also to the strength of our automation platform, and our focused approach to business and technology development.

Mercia has continued to support and encourage us through this year of growth and transition. Their support goes beyond financial, helping us navigate through challenges as they arise. We're extremely proud of everything we've accomplished this year, and look forward to bringing more innovative, game changing technologies to market in the year ahead."

Mark Payton , Chief Executive Officer of Mercia, commented :

" OXGENE(TM) is now being repeatedly recognised by some of the world's largest pharmaceutical brands which see the considerable value of its proprietary technology. The company is rapidly addressing global healthcare challenges and this latest investment round demonstrates the confidence that Mercia has in the business and its management team to deliver medium to long-term value."

Ends

For further information, please contact:

 
   Mercia Asset Management PLC 
    Mark Payton, Chief Executive Officer 
    Martin Glanfield, Chief Financial Officer        +44 (0)330 223 
    www.mercia.co.uk                                           1430 
   Canaccord Genuity Limited (NOMAD and Joint        +44 (0)20 7523 
    Broker)                                                    8000 
   Simon Bridges, Richard Andrews 
 
   N+1 Singer (Joint Broker) 
                                                     +44 (0)20 7496 
   Harry Gooden, James Moat                                    3000 
 
                                                     +44 (0)20 3727 
   FTI Consulting                                              1051 
   Tom Blackwell, Louisa Feltes, Antonia Powell 
   mercia@fticonsulting.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 Connected Capital'. 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 currently has c.GBP800million of assets under management and, since its IPO in December 2014, has invested over GBP90million across its direct investment portfolio.

Mercia Asset Management PLC is quoted on AIM with the epic "MERC".

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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