Tech Transfer eNews Blog

Oxford start-up behind AstraZeneca COVID-19 vaccine files to go public

By Jesse Schwartz
Published: April 14th, 2021

Vaccitech, the biotech start-up behind the COVID-19 vaccine jointly developed by the University of Oxford and AstraZeneca, has filed for an IPO in the U.S.

Vaccitech is aiming for a listed valuation of roughly $700 million, with some observers estimating that could reach $1 billion.

Vaccitech says it plans to use the proceeds to develop prostate cancer treatments based on the same technology it used to develop the vaccine.

The news comes on the heels of another Oxford vaccine start-up going public. That company, Oxford Nanopore Technologies, also collaborated with AstraZeneca to develop a COVID-19 vaccine. (See article: here.)

At the onset of the pandemic last year, Vaccitech was one of the most valuable companies under Oxford Sciences Innovation, the university’s commercialization arm. It had $4.8 million in revenue that year and has raised $216 million from major investors including Gilead Sciences and Alphabet Inc.’s GV, formerly Google Ventures.

Friday’s IPO filing notes that Vaccitech, as a co-developer, stands to make 24% of whatever royalties Oxford makes from the vaccine. The filing includes a caveat that Vaccitech hasn’t seen the full contract between Oxford and AstraZeneca – which the start-up’s bankers and lawyers have sought unsuccessfully. Shares in the company may begin trading as early as this week under the ticker symbol VACC.

Source: mint

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