Oxford Biomedica plc announced that Boehringer Ingelheim has exercised its option to license Oxford Biomedica's lentiviral vector technology to manufacture, register and commercialise BI 3720931. Under the terms of the option and license agreement with Boehringer Ingelheim, originally announced in August 2018, Boehringer Ingelheim will pay Oxford Biomedica an option exercise fee of ?3.5 million. Oxford Biomedica is further entitled to development, regulatory and sales milestones of up to a further ?27.5 million, in addition to a tiered low single digit royalty on net sales of a CF gene therapy product.