Oxford BioDynamics (LON: OBD) share price is trading lower on Friday despite its announcement that it has signed a lease agreement for a new laboratory and office space at Oxford Business Park to expand its UK facilities.
The new space is 24,000 square feet and will house the company’s growing UK infrastructure. OBD recently launched its EpiSwitch CST Covid Severity Test and EpiSwitch Explorer Array Kit.
The AIM-listed company said 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.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
It will also provide custom-designed space for product manufacturing, sample and consumables storage, and offices and meeting rooms to accommodate its entire UK team.
Development work is expected to be completed in late July.
“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,” said Dr Jon Burrows, CEO of Oxford BioDynamics.
Oxford BioDynamics share price is down over 1.8% following the news, at 91.4p.
