Gilead Stock – Biotech startup Vaccitech confidentially files for U.S. IPO: FT
(Reuters) – Biotech startup Vaccitech, which owns the technology behind the COVID-19 vaccine developed by Oxford and AstraZeneca PLC, has confidentially filed for an initial public offering in the United States, the Financial Times reported on.ft.com/3rWvPuK on Wednesday.
The startup 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 Reuters request for comment.
Vaccitech’s call to go with the U.S. 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 U.S.- based special purpose acquisition company backed by billionaire investor Dan Och, in a $7 billion deal.
It raised around $168 million in fresh capital in a funding round led by investment firm M&G Investment Management and with participation from investors including Gilead Sciences Inc and venture capital firm Future Planet Capital, among others.
The UK Treasury also has a stake in the company, the report added.
Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli