Leukaemia drug boost

SHARES in British biotech firm Oxford Biomedica soared after a revolutionary drug which uses its technology was approved by US regulators.

The CTL019 drug, a treatment for children with leukaemia, could usher in a new approach to treating cancer and other lifethreatening diseases. It sent shares in Oxford Biomedica up 10.7pc, or 0.96p, to 9.9p.

John Dawson, chief executive, said the company – loss-making for two decades – would start receiving royalties within ‘a couple of months’.

Analysts predict the drug could be worth more than £770m a year.