Oxford COVID-19 Vaccine Tech Maker Vaccitech Targets $613 Million Valuation in U.S. IPO
The company, which has development programs for conditions including hepatitis B, prostate cancer and non-small cell lung cancer, has raised $216 million to date from Gilead Sciences, Sequoia Capital China and Oxford Sciences Innovation among others.
The UK-based company, spun out of Jenner Institute at the Oxford University in 2016, said it plans to list its American Depositary Shares (ADS) on Nasdaq under the ticker symbol “VACC”.
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It said it was offering 6.5 million ADSs, each representing one ordinary share, priced between $16 and $18 each. At the top end of the range, the IPO would rake in $117 million for Vaccitech.
The company intends to use proceeds from the offering to fund its ongoing clinical programs and its early-stage research and development.
Morgan Stanley, Jefferies, Barclays, William Blair and H.C. Wainwright & Co are the underwriters for the offering.
(Reporting by Niket Nishant and Manojna Maddipatla in Bengaluru; Editing by Shinjini Ganguli)