Oxford COVID-19 Vaccine Tech Maker Vaccitech Targets $613 Million Valuation in U.S. IPO
The corporate, which has growth applications for situations together with hepatitis B, prostate most cancers and non-small cell lung most cancers, has raised $216 million to this point from Gilead Sciences, 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 record its American Depositary Shares (ADS) on Nasdaq below the ticker image “VACC”.
It mentioned it was providing 6.5 million ADSs, every representing one atypical share, priced between $16 and $18 every. On the high 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 applications and its early-stage analysis and growth.
Morgan Stanley, Jefferies, Barclays, William Blair and H.C. Wainwright & Co are the underwriters for the providing.
(Reporting by Niket Nishant and Manojna Maddipatla in Bengaluru; Enhancing by Shinjini Ganguli)