Vaccitech, startup behind AstraZeneca-Oxford’s Covid vaccine, files for U.S. IPO

A individual gets a dose of the Oxford/AstraZeneca coronavirus ailment vaccine at the Cacovid isolation centre, Mainland, Infectious illness medical center, Yaba, in Lagos, Nigeria.

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Biotech startup Vaccitech, which owns the know-how driving the Covid-19 vaccine designed by Oxford University and AstraZeneca, filed for a U.S. original community presenting on Friday.

The British company strategies to listing the American depositary shares on the Nasdaq beneath the image “VACC.”

Vaccitech’s earnings dropped about 30% to $4.8 million in the yr ended Dec. 31, even as its web reduction narrowed to $17.9 million from $22.7 million due to lessen study and progress costs.

The enterprise pointed out in a filing that based mostly on its knowing, it would not be entitled to get any royalties or payments from sub-licensees from the commercialization of the AstraZeneca vaccine till soon after the pandemic is around.

Vaccitech’s desire for a U.S. listing to one particular in the Uk could further undermine London’s makes an attempt to turn into a major money hub, especially immediately after Brexit.

The organization is co-established by Sarah Gilbert, professor of vaccinology at Oxford College, who led AstraZeneca’s COVID-19 vaccine improvement initiatives.

Morgan Stanley, Jefferies and Barclays are among the the offering’s underwriters.