AstraZeneca COVID-19 jab developer Vaccitech sets IPO price

0
2

Vaccitech, which owns the technology behind the AstraZeneca PLC (LON:AZN)/Oxford University COVID-19 jab, has set its IPO price that values the company at up to US$613mln (GBP441mln).


The offer will consist of 6.5mln American Depositary Shares (ADS) priced at US$16-18 each.


READ: AstraZeneca COVID-19 jab developer Vaccitech prepares for GBP509mln New York IPO


The flotation could yield US$117mln (GBP84mln) if it goes ahead at the top of the range.


Vaccitech will list on the Nasdaq with the ticker symbol ‘VACC’.


The biotech was founded in 2016 by Sarah Gilbert, the University of Oxford professor who led the team developing the Coronavirus vaccine, and professor Adrian Hill, the director of the prestigious Jenner Institute.


It has developed a platform that mimics viral infection in human cells to stimulate the body’s immune system, so it can fight foreign pathogens and cancer.


Vaccitech’s first licenced programme was the COVID-19 inoculation, now distributed by AstraZeneca, while it is on first-stage trials for treatment for HPV, prostate cancer and Middle East Respiratory Syndrome (MERS) among others.


So far it has raised US$216mln from Gilead Sciences (NASDAQ:GILD), Sequoia Capital China and Oxford Sciences Innovation among others, Reuters reported.

LEAVE A REPLY

Please enter your comment!
Please enter your name here