Climate Change Data

Environmental Metrics

ESG Focus Areas

• Corporate Social Responsibility
• Health and Safety
• Environmental Sustainability
• Employee Relations
• Ethical Business Practices

Environmental Achievements

• Collected and reported total CO2 emissions for the first time (2,297 tonnes)

Social Achievements

• Maintained a first-class safety record.
• Implemented policies ensuring equal opportunities for all employees.
• Continued annual employee appraisal process.
• Improved communication between colleagues through briefings and meetings.
• Committed to interacting with all stakeholders ethically.

Governance Achievements

• Complied with the UK Corporate Governance Code (except where noted).
• Established three new management committees.
• Successfully resolved an impurity issue in clinical trial material.
• Implemented policies for managing clinical trials and ensuring compliance.

Climate Goals & Targets

Environmental Challenges

• Temporary suspension of clinical studies due to a potential impurity.
• Difficult funding environment.
• High cash burn.
• Risk of failure to develop products successfully.
• Risk of safety issues arising during drug development.

Mitigation Strategies

• Investigated and resolved the impurity issue, resuming clinical studies.
• Secured grants and loans from the UK Government (£7.1 million).
• Secured a £5 million loan facility from Vulpes Life Sciences Fund.
• Developed a strategy to progress product candidates and build a profitable services business.
• Implemented robust risk management processes and internal controls.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Using qualified licensed contractors for waste disposal.
• Using foetal bovine serum (FBS) as a growth supplement in cell culture media.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: GMP, GCP, GLP

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Gene therapy products targeting ocular diseases, neurodegenerative disorders, and cancer.

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Health and Safety
• Employee well-being
• Environmental responsibility
• Quality assurance
• Ethical interactions with stakeholders

Environmental Achievements

• Reduced CO2 emissions to 2270 tonnes (2013: 2297 tonnes)

Social Achievements

• Increased headcount to 134 employees (from 106), supporting manufacturing revenue generation
• Implemented policies based on best practice guidelines for employee remuneration, rights, and equal opportunities
• Maintained a first-class safety record
• Implemented a recycling program for cardboard and office paper

Governance Achievements

• Maintained GMP, GCP, and GLP accreditations
• Successfully completed a £21.6 million fundraise
• Signed a major licensing and manufacturing agreement with Novartis

Climate Goals & Targets

Environmental Challenges

• Intellectual property and patent protection risks
• Gene therapy risks (acceptance by medical community and public, regulatory requirements)
• Development risks (safety, efficacy, technical solutions, manufacturing processes, funding, regulatory approvals, patient recruitment)
• Manufacturing process risks (contamination, process failure)
• Collaboration and funding risks
• Regulatory risks
• Attraction and retention of key employees
• Financial risks (product liability, foreign currency exposure, cash flow)
• Longer-term commercialization risks (competition, regulatory changes, pricing, physician adoption)

Mitigation Strategies

• Prioritizing strategic management of intellectual property portfolio
• Focusing on areas of high unmet medical need
• Seeking partners with complementary expertise
• Investing in manufacturing capability
• Implementing robust risk management and internal control processes
• Maintaining high standards of quality and regulatory compliance
• Competitive remuneration packages and employee development programs
• Securing a major licensing and manufacturing agreement with Novartis
• Successful fundraising

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Using qualified licensed contractors for waste disposal

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: GMP, GCP, GLP

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• LentiVector® platform products
• 5T4 platform products

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• People
• Community
• Environment
• Innovation
• Supply Chain

Environmental Achievements

• Switched all energy supply to Green Energy providers
• Reduced waste going to landfill

Social Achievements

• Established a Workforce Engagement Panel
• Offered online wellbeing workshops
• Received the “Commitment to Workplace Wellbeing” award from Oxfordshire Mind
• Added eight apprentices to the apprenticeship scheme
• Raised over £4,000 for SeeSaw charity
• Donated £21,000 to SeeSaw charity
• Donated £10,000 to Oxfordshire Mind charity

Governance Achievements

• Appointed Dr. Roch Doliveux as Non-Executive Chair
• Appointed Dr. Sam Rasty as an Independent Non-Executive Director
• Improved Corporate Governance practices

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impact on operations and supply chain
• Brexit impact on operations and supply chain
• Attracting and retaining highly skilled employees
• Potential product liability risks
• Foreign currency exposure
• Adverse public opinion and special interest groups
• Cyber security risks
• Rapid technical change in the cell and gene therapy sector
• Longer-term commercialization risks
• Intellectual property and patent protection risks

Mitigation Strategies

• Implemented extensive working from home
• Implemented changes to sign-off process for bank payments
• Established an Irish office to release UK manufactured products within the EU
• Stockpiled three months of critical material supplies
• Asked key suppliers to hold stocks in UK warehouses
• Created an attractive working environment
• Conducted benchmarking reviews to ensure competitive remuneration
• Took expert advice on the validity of claims and used insurance coverage
• Keeps unhedged foreign currency position under constant review
• Worked with UK government (Centre for Protection of National Infrastructure) on facility protection and scenario planning
• Implemented robust security monitoring and sought assistance from the UK government (National Cyber Security Centre)
• Completed Brexit preparations
• Established a Brexit Taskforce
• Increased level of incoming materials and components held in warehouses
• Implemented COVID-secure workplace practices
• Participated in government pilot for lateral flow testing in the workplace
• Developed business continuity plans with alternative manufacturing sites and a second sourcing strategy
• Monitors potential impact on supply chain
• Implemented a daily senior management working group to monitor COVID-19 developments

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Paying 94% of suppliers' invoices within 30 days
• Developing a Supplier Code of Conduct
• Benchmarking suppliers and providing feedback

Climate-Related Risks & Opportunities

Physical Risks

• Weather-related disruption at manufacturing sites and to suppliers

Transition Risks

• Increased costs of resources and fuels

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Companies Act 2006, UK Corporate Governance Code, The Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, World Resources Institute (WRI) GHG Protocol, Defra’s Environmental Reporting Guidelines, IFRS 15

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Commitment to Workplace Wellbeing award from Oxfordshire Mind

Environmental Metrics

ESG Focus Areas

• People
• Community
• Environment
• Innovation
• Supply Chain

Environmental Achievements

• Reduced GHG emissions by 2% (location based) and 14% per FTE; 55% decrease in business flight emissions.
• Moved several processes to paperless, saving approximately 10,000 sheets of paper and approximately two tonnes of carbon emissions.
• Increased recycling efforts.

Social Achievements

• Recruited over 200 new employees.
• Added 16 apprentices, exceeding the target of 9.
• Launched a company-wide employee engagement survey with 70% participation and an 84% sustainable engagement score.
• Created an action plan for Equality, Inclusion, and Diversity (ED&I).
• Introduced wellbeing initiatives focusing on mental health and resilience.
• Raised £17,000 for SeeSaw charity.

Governance Achievements

• Increased Board diversity to 30% women by year-end 2021, exceeding the target of one-third by April 2022.
• Undertook an anti-bribery and anti-corruption review.
• Implemented a detailed alignment plan for the integration of Oxford Biomedica Solutions.

Climate Goals & Targets

Environmental Challenges

• Growth in manufacturing did not allow for reduction in hazardous liquid waste.
• Competitive employment market, especially in Boston.
• Potential for adverse public opinion regarding vaccine manufacturing.
• Risks associated with integrating Oxford Biomedica Solutions.
• Risks associated with operating in a new jurisdiction (US).

Mitigation Strategies

• Revised waste process resulting in a 61% reduction in Virkon waste.
• Competitive compensation and benefits packages.
• Assistance from UK government for facility protection and scenario planning for strategic communications.
• Detailed alignment plan with advisor support.
• Use of professional advisors for US market guidance.

Supply Chain Management

Responsible Procurement

• Ethical sourcing of GMP grade suppliers for PPE.
• Development of a supplier code of conduct.

Climate-Related Risks & Opportunities

Physical Risks

• Floods, water scarcity, extreme heat, strong winds, wildfires

Transition Risks

• Regulatory changes, market shifts, pressures to reduce carbon footprint

Opportunities

• Process intensification for more economical and environmentally sustainable viral vector production.

Reporting Standards

Frameworks Used: TCFD, SECR

Environmental Metrics

ESG Focus Areas

• People
• Community
• Environment
• Innovation
• Supply Chain

Environmental Achievements

• Reduced waste emissions by 10%
• Increased recycling by 6%
• Lighting substitution at Oxbox saving an estimated 52,000KWh per annum and 10 tCO₂e
• Achieved 10% reduction in Scope 1 and 2 GHG emissions

Social Achievements

• Inclusion in the FTSE4Good index in June 2022
• Launched stay interview initiative
• Workforce Engagement Panel held nine meetings in 2022
• Cost of living payment of £1,200 to 63% of the workforce
• 203 managers completed Management Development Programme

Governance Achievements

• Formalized Supplier Code of Conduct
• Implemented ethical review process for New Technology and New Product Committees
• Additional anti-bribery and anti-corruption training for employees
• Board comprised 40% women

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions
• Rapid technical change in the cell and gene therapy sector
• Competition for highly skilled employees
• Potential product liability risks
• Inflationary cost pressures
• Climate change risks (flood risk in Boston, water stress in Dublin)

Mitigation Strategies

• Developing alternative sourcing strategies
• Horizon scanning to identify competition and technology advances
• Competitive rewards and incentivization package for employees
• Insurance coverage against claims
• Long-term fixed contracts for energy supply
• Business continuity plans
• Flood risk assessment and management

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather
• Flood risk
• Heat stress
• Water stress

Transition Risks

• Regulatory changes
• Market shifts
• Decarbonization pressure

Reporting Standards

Frameworks Used: TCFD, FTSE4Good

Awards & Recognition

• Apprenticeship Employer of the Year 2022

Environmental Metrics

ESG Focus Areas

• People
• Innovation
• Community
• Supply Chain
• Environment
• Governance, Integrity and Ethics

Environmental Achievements

• Reduced water flushes when storing liquid waste, drastically reducing volumes sent for waste treatment
• Achieved a second consecutive entry into the International Freezer Challenge
• Implemented lighting upgrades and encouraged carpooling

Social Achievements

• Launched Employee Network Groups to foster a diverse, inclusive workplace
• Continued its commitment to review OXB policies to ensure they are inclusive, progressive and offer equal opportunities to all employees
• Wellbeing programme included webinars on stress management, healthy habits, and managing change
• Celebrated Mental Health Awareness Week with onsite activities

Governance Achievements

• Strengthened the Board and the Corporate Executive Team to align with the repositioned business strategy whilst continuing to increase diversity
• Completed a strategic reset under the leadership of the new CEO, which included a comprehensive realignment of the business, including a transformation of the organisational structure
• Strengthened its governance processes by establishing an ESG Committee

Climate Goals & Targets

Environmental Challenges

• Impairment to the US business as a result of the termination of revenues from Homology Medicines Inc.
• Financial performance impacted by the non-recurrence of COVID-19 vaccine bioprocessing volumes
• Reorganisation of its workforce to create a more streamlined structure across the UK and the US
• Rapid technical change in the cell and gene therapy sector
• Reliance on third parties for the supply of raw materials and certain out-sourced services
• Complexity of bioprocessing of viral vectors, with batches potentially failing to meet required specifications
• Cyber-attacks seeking to compromise IT systems and data
• Increased competition for highly skilled employees
• Failure to comply with laws, rules and regulations across the UK, the EU and the US
• Potential product liability risks
• Geopolitical unrest and inflationary cost pressures

Mitigation Strategies

• Implemented extensive cost management initiatives and refined structure to better align with the demands of a pure-play CDMO
• Introduced the “One OXB” strategy to increase efficiency and agility
• Acquisition of ABL Europe (Oxford Biomedica (France)) to provide a bioprocessing and manufacturing footprint in the EU
• Intensified business development activities, resulting in a more than 50% increase in the contracted value of client orders and business development pipeline
• Competitive rewards and incentivisation package and regular employee engagement to create an attractive working environment
• Established compliance framework and strong ethical and compliance-focused culture
• Investment in high quality facilities, equipment and employees, particularly in quality management systems
• Robust security monitoring and protection to provide detection of, and defence against, hostile activity
• Development and testing of recovery plans for cyber-attacks
• Extensive insurance coverage across global operations
• Minimising risk arising from energy costs and security of long-term energy supply with long-term fixed contracts
• Actively monitoring services provided for clients to ensure inflationary cost increases are mitigated

Supply Chain Management

Supplier Audits: Regular audits on certain suppliers and quarterly business reviews covering the top 5-6 suppliers

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Increased severity of extreme weather events
• Flood risk at Bedford, US
• Rising mean temperature
• Water stress

Transition Risks

• Reputation
• Policy and Legal
• Market

Opportunities

• Products and Services
• Resource and energy efficiency

Reporting Standards

Frameworks Used: TCFD, CDP, SBTI

Sustainable Products & Innovation

• TetraVecta™ system