Oxford BioTherapeutics Ltd.

Drug candidate is one of several oncology assets approaching or in clinical development, discovered through Oxford BioTherapeutics’ proprietary OGAP®-Verify discovery platform OBT receives milestone payment associated with advance of drug candidate Oxford, UK and San Jose, California, 3 July 2025 – Oxford BioTherapeutics (OBT), a clinical stage oncology company with a pipeline of immuno-oncology (IO) and Antibody Drug Conjugate (ADC)-based therapies, today announced that Boehringer Ingelheim has selected a third drug candidate, which will now advance into IND-enabling studies under their ongoing collaboration. The target, OB33, was identified using OBT’s proprietary OGAP®-Verify discovery platform. As a result of this milestone, OBT will receive a payment from Boehringer. Immuno-oncological therapies have transformed the cancer treatment landscape. They are however only effective in a subset of patients, requiring the identification of novel immunotherapy targets. The collaboration with Oxford BioTherapeutics complements Boehringer Ingelheim’s development of next-generation potentially life-changing cancer immunotherapies with the identification of unique and specific cancer targets. Dr. Christian Rohlff, Chief Executive Officer, said: “We are pleased to see our partnership with Boehringer Ingelheim reach an important preclinical milestone. It reflects the strength of our collaboration and the scientific excellence of our OGAP discovery platform. This achievement reinforces our strategy of partnering with world-class organizations to translate breakthrough science into potential new cancer therapies. We look forward to the next phase of this highly successful partnership and to continuing to work together to develop innovative first-in-class treatments for patients with difficult to treat cancers.” OBT’s recently launched enhanced OGAP®-Verify discovery platform allows for enhanced sensitivity and target selection, addressing key challenges in the design of therapeutic antibodies and diagnostic tools. This has resulted in an increased overall success rate of these novel compounds transitioning into clinical development. Under the multi-year collaboration, OBT has identified targets using the OGAP®-Verify platform, while Boehringer is responsible for the development and commercialization of resulting product candidates. The OBT–Boehringer partnership began in 2013 and has expanded through subsequent agreements in 2020 and 2022 to include additional programs. The collaboration has yielded multiple development-stage assets, with two candidates currently in clinical trials, one compound now in IND enabling studies, and a fourth target recently optioned by Boehringer Ingelheim. *** About Oxford BioTherapeutics Oxford BioTherapeutics is a clinical stage oncology company discovering and developing first in class antibody-based therapies designed to fulfil major unmet patient needs in cancer therapy. These include Bispecific Antibodies and Antibody Drug Conjugate (ADC) therapeutics. OBT is dedicated to discovering and validating the next generation of ADC targets for safe and effective medicines. The OGAP®-Verify platform’s enhanced sensitivity, specificity, and reliability will significantly accelerate biopharma’s capabilities to identify and validate human targets with robust scientific support. Our commitment to leveraging OGAP capabilities underscores our dedication to advancing the forefront of cancer therapy development, with three programs originating from this technology now in clinical development in the US and Europe. OBT’s Immuno-oncology discovery process provides unique insights into the cancer-immune cell synapse and has identified several novel IO monoclonal and bispecific antibody candidates for cancer therapies. OBT's lead clinical program, OBT076, is currently in Phase I clinical trials in patients with advanced or refractory solid tumors, including gastric, bladder, ovarian and lung cancers, where CD205 is overexpressed. OBT’s pipeline and development capabilities have been validated through multiple strategic partnerships including with Roche, Boehringer Ingelheim, ImmunoGen (now part of Abbvie) and Zymeworks as well as other world leaders in antibody development (such as Amgen, WuXi, Medarex (BMS) and Alere (Abbott). OBT has a strong oncology focused management team and board with significant experience in developing IO and antibody-based therapies. For more information on Oxford BioTherapeutics, please visit www.oxfordbiotherapeutics.com and follow us on LinkedIn. Partnering:Dr Christian Rohlff, CEOPartnering@oxfordbiotherapeutics.com Media:MEDiSTRAVA Sylvie Berrebi, Sandi Greenwood, Erica HollingsworthE : OBT@medistrava.comT : +44 (0)203 928 6900

Roche’s Genentech unit and Repertoire Immune Medicines have entered into a partnership worth $765m to discover and develop T cell-targeted immune medicines for an undisclosed autoimmune disease. The collaboration and licence agreement centres around Repertoire’s DECODE platform, which will be used to generate target discoveries that Genentech will further optimise and translate into new drugs. Autoimmune diseases, including rheumatoid arthritis, type 1 diabetes and multiple sclerosis, affect more than 50 million people in the US. They occur when the immune system is unable to distinguish between healthy cells and invading pathogens. Repertoire’s platform is designed to map the immune synapse, offering a comprehensive overview of the interactions between T cell receptors and their cognate antigenic epitopes. Boris Zaïtra, head of Roche corporate business development, said: “As we seek new opportunities to bring an even greater impact to patients, we look forward to translating the new discoveries DECODE and the team at Repertoire will reveal to develop novel medicines for patients suffering from autoimmune diseases.” Under the terms of the agreement, Repertoire will lead target discovery activities using its platform, while Genentech will take on responsibility for preclinical and clinical development, as well as global commercialisation of therapies that utilising the target discovery work. In exchange, the Flagship Pioneering-founded biotech will be eligible to receive $35m upfront and up to $730m in development, regulatory and commercial milestones, plus tiered royalties. “The enormous breadth of DECODE’s therapeutic target discovery potential is well beyond what we could realise on our own,” said Torben Straight Nissen, chairman and chief executive officer of Repertoire, and executive partner at Flagship Pioneering. “Given Genentech’s commitment and experience… in developing treatments for autoimmune diseases, we are delighted to partner with them to bring medicines to patients that reset the immune system and have the potential to provide significant therapeutic benefits,” he added. The collaboration comes just one month after Roche entered into a partnership worth over $1bn with Oxford BioTherapeutics to discover new antibody-based therapeutics for cancer. Roche also announced an exclusive collaboration and licensing agreement with Zealand Pharma in March to advance Zealand’s mid-stage obesity candidate petrelintide, and gained exclusive global rights to Innovent Biologics’ DLL3-targeted antibody drug conjugate candidate in January.

Boehringer expands oncology pipeline with Tessellate deal. Credit: Sundry Photography via Getty Images. Boehringer Ingelheim has signed a €500m ($572m) agreement with UK-based biotech Tessellate Bio to co-develop targeted cancer therapies for tumours that rely on the alternative lengthening of telomeres (ALT) mechanism – a lesser-known telomere maintenance process that supports the survival of certain hard to treat cancers. Under the terms of the deal, Tessellate Bio will receive an upfront licensing fee, research funding, and technical milestone payments, along with additional success-based development and commercial milestones. The total potential value of the agreement is more than $572m. Tessellate has developed small molecule inhibitors against an undisclosed target that plays a central role in enabling the replication and survival of ALT-positive cancer cells. According to the company, preclinical data shows that blocking this target leads to DNA damage and replication stress, selectively killing tumour cells dependent on the ALT mechanism while sparing healthy cells that do not use this pathway. The collaboration builds on Tessellate’s ongoing work to characterise ALT activity across tumour types, following a research initiative launched in September 2024 with Australian research institutes CMRI and Omico. Tessellate secured €8m in seed funding from BioGeneration Ventures and Forbion when it launched publicly in October 2023. This deal with Boehringer marks Tessellate’s first partnership with a biopharma company. For Boehringer, this deal aligns with its strategic expansion in oncology. Over the last few years, the German pharma company has pursued a series of R&D and licensing agreements to strengthen its cancer portfolio. In October 2024, it partnered with Circle Pharma to co-develop a first-in-class cyclin inhibitor, in a deal worth up to $607m in upfront and milestone payments. That same month, it opened a €60m ($66.8m) research building in Vienna, Austria , focused on advancing novel cancer therapies. Boehringer’s marketed oncology products include Giotrif (afatinib) for EGFR-mutated non-small cell lung cancer (NSCLC) and Vargatef (nintedanib) for specific types of lung cancer. The company is also advancing late-stage assets such as brigimadlin, an MDM2-p53 antagonist in a pivotal clinical trial for rare cancer dedifferentiated liposarcoma (DDLPS). Boehringer is also advancing zongertinib , a tyrosine kinase inhibitor being evaluated as a potential treatment for HER2-mutated NSCLC. GlobalData Strategic Intelligence US Tariffs are shifting - will you react or anticipate? Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis. By GlobalData Learn more about Strategic Intelligence In January 2025, Boehringer signed two further licensing agreements to deepen its pipeline. The first, with Synaffix, grants access to the company’s antibody-drug conjugate (ADC) platform in a deal worth up to $1.3bn , covering multiple undisclosed targets. The second was an extension of a long-standing partnership with Oxford BioTherapeutics, under which Boehringer exercised an option for a fourth novel target. Oxford BioTherapeutics will receive development milestones and royalties, while Boehringer takes over full development and commercial responsibilities.