Oxford COVID-19 vaccine tech maker Vaccitech targets $613 million valuation in U.S. IPO By Reuters
(Reuters) – Biotech startup Vaccitech, which co-invented the COVID-19 vaccine developed by AstraZeneca (NASDAQ:) Plc and Oxford College, mentioned on Monday it was aiming for a valuation of as much as $613 million in its U.S. preliminary public providing.
The corporate, which has growth packages for circumstances together with hepatitis B, prostate most cancers and non-small cell lung most cancers, has raised $216 million to this point from Gilead Sciences (NASDAQ:), Sequoia Capital China and Oxford Sciences Innovation amongst others.
The UK-based firm, spun out of Jenner Institute on the Oxford College in 2016, mentioned it plans to checklist its American Depositary Shares (ADS) on Nasdaq below the ticker image “VACC”.
It mentioned it was providing 6.5 million ADSs, every representing one odd share, priced between $16 and $18 every. On the prime finish of the vary, the IPO would rake in $117 million for Vaccitech.
The corporate intends to make use of proceeds from the providing to fund its ongoing medical packages and its early-stage analysis and growth.
Morgan Stanley (NYSE:), Jefferies (NYSE:), Barclays (LON:), William Blair and H.C. Wainwright & Co are the underwriters for the providing.
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