Oxford BioTherapeutics Out-Licenses Therapeutic Antibody for the Treatment of Solid Cancers

OXFORD, England, January 25, 2011 - Oxford BioTherapeutics (OBT) today announces that
sanofi-aventis has acquired an exclusive world-wide license to one of OBT's
internal preclinical antibody programs.

sanofi-aventis intends to use the licensed antibody, which is
directed against a novel, proprietary target identified by OBT, to develop,
manufacture and commercialize antibody drug conjugate (ADC) products for the
treatment of cancer. ADC products comprise toxins attached to antibodies
which form effective therapeutic products that attack tumor cells in a highly
targeted manner.

Under the terms of the agreement, sanofi-aventis agreed to pay
OBT an undisclosed upfront cash payment. OBT is eligible for development and
regulatory milestone payments on the program, royalties on the worldwide
products sales and will receive additional performance milestones.

"This is the most advanced antibody licensing deal that OBT has signed to
date and I am delighted that the target and antibody capabilities that we
have built have been recognized by a world leading pharmaceutical company
such as sanofi-aventis," said Christian Rohlff, CEO of OBT. "Given their
expertise and experience in cancer drug development, I am very pleased that a
program from our broad preclinical pipeline will be developed by
sanofi-aventis."

The initiative integrates OBT's expertise in cancer target and
antibody discovery with the in-house antibody development capabilities of
sanofi-aventis. A key component of OBT's expertise in cancer target discovery
is the company's OGAP(R) proteomic database, which represents one of the
world's largest proprietary human cancer cell-surface protein repositories
combined with highly relevant genomic and clinical information derived from
human blood and cancer tissue studies.

About Oxford BioTherapeutics

Oxford BioTherapeutics (OBT) is focused on the development of
targeted medicines for oncology. OBT's strategy is to develop innovative
antibody-based cancer drugs, with integrated diagnostics, against novel
targets that it has discovered in its unique OGAP(R) proteomic database.

OBT, through its alliances with the world leaders in antibody
development, has been able to use its unique position to convert its novel
targets into a highly attractive pipeline of therapeutic antibodies. OBT's
pipeline will deliver innovative and cost-effective medicines to fulfil major
unmet patient needs in the field of cancer.

OBT, a privately held company, was formed in 2004 and is based near
Oxford, UK.

For further information, please see www.OxfordBioTherapeutics.com
or www.oxbt.co.uk

About OGAP(R)

The Oxford Genome Anatomy Project (OGAP(R)) database
represents the world's largest proprietary collection of disease-associated
proteins. OGAP(R) oncology contains proteomic data on 5,000 cancer membrane
proteins combined with their genomic and clinical information derived from
human blood and cancer tissue studies. OGAP(R) contains proprietary target
information on three quarters of the entire human proteome. Over one million
human protein fragments have been sequenced in OGAP in 50 different human
tissues representing 60 diseases have been mapped to approximately 15,000
different genes and over eight million SNPs and haplotypes.

OGAP(R) is a registered trade mark of Oxford BioTherapeutics Ltd.

For further information, please see www.OxfordBioTherapeutics.com
or www.oxbt.co.uk

    Oxford BioTherapeutics Enquiries:
    Chief Executive Officer:
    Christian Rohlff, Ph.D.
    +(44)-(0)1235-861770
    E-mail - cr@oxbt.co.uk

    Media enquiries/Citigate:
    David Dible
    +(44)-(0)207-638-9571
    E-mail - david.dible@citigatedr.co.uk

Oxford BioTherapeutics Enquiries: Chief Executive Officer: Christian Rohlff, Ph.D., +44(0)1235-861770, E-mail - cr at oxbt.co.uk . Media enquiries/Citigate: David Dible, +44(0)207-638-9571, E-mail - david.dible at citigatedr.co.uk .