Picture: 123RF/CHAYATORN LAORATTANAVECH
Picture: 123RF/CHAYATORN LAORATTANAVECH

Bengaluru — Biotech start-up Vaccitech, which owns the technology behind the Covid-19 vaccine developed by Oxford and AstraZeneca, has confidentially filed for an initial public offering (IPO) in the US, the Financial Times reported on Wednesday.

The start-up could price its offering as early as this month, the report said, citing people familiar with the matter.

The company did not immediately respond to a request for comment.

Vaccitech’s call to go with the US market as the venue for its listing over the UK could further undermine London’s attempts to become a major financial hub, particularly after Brexit.

Last month, another UK company, car seller Cazoo Holdings, chose to merge with a US- based special purpose acquisition company backed by billionaire investor Dan Och, in a $7bn deal.

Vaccitech is co-founded by Sarah Gilbert, professor of vaccinology at Oxford University, who led AstraZeneca’s Covid-19 vaccine development efforts.

It raised about $168m in fresh capital in a funding round led by investment firm M&G Investment Management and with participation from investors including Gilead Sciences and venture capital firm Future Planet Capital, among others.

The UK treasury also has a stake in the company, the report added. 

Reuters

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