LONDON (ShareCast) - Shares of gene-based biopharmaceutical company Oxford Biomedica fell sharply after it confirmed clinical trials of its eye products have been put on hold.

"RetinoStat Phase I, StarGen Phase I/IIa and UshStat Phase I/IIa studies, (have been paused) as a precautionary measure, whilst the company investigates the recent detection of very low concentrations of potential impurities derived from a widely-used third party raw material," it said in a company statement.

The RetinoStat therapy aims to preserve and improve vision in patients through anti-angiogenesis which blocks the formation of new blood vessels.

The group explained: "A new, highly sensitive test method has recently been introduced into the company's wide range of analytical methods and quality assurance processes used for routine batch testing. Using this method, potential impurities have been detected at very low concentrations in clinical trial material."

"No safety concerns relating to any of the aforementioned products have been identified in any pre-clinical and clinical data generated to date and there is no reason to believe that the favourable safety profile of these products will be affected."

Oxford Biomedica said such precautionary measures are routine and it is working very closely with the regulatory authorities to complete its investigations.

The group said it is committed to resuming the clinical trials as soon as possible and will update the market when appropriate.

Shares of Oxford Biomedica fell nearly 12% to 2.02p at 09:20 in London.




CJ

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