(Reuters) – Biotech startup Vaccitech Plc, which owns the technology behind the COVID-19 vaccine developed by Oxford University and AstraZeneca Plc, unveiled an initial public offering in the US on Friday.
The British company plans to list US depository shares on the Nasdaq under the symbol “VACC”.
Vaccitech’s revenue fell about 30%, to $ 4.8 million in the year ended December 31, although its net loss fell to $ 17.9 million, of $ 22.7 million due to lower research and development spending.
The company noted in a file bit.ly/3t5lRs5 that, in its understanding, it would not be entitled to receive any royalties or payments from sublicensees for the marketing of the AstraZeneca vaccine until the pandemic ends.
Vaccitech’s preference for a U.S. listing in the UK could further undermine London’s attempts to become a major financial center, especially after Brexit.
The company is co-founded by Sarah Gilbert, a professor of vaccinology at Oxford University, who led AstraZeneca’s COVID-19 vaccine development efforts.
Morgan Stanley, Jefferies and Barclays are among the subscribers to the offer.
Reports from Praveen Paramasivam to Bengaluru; Edition by Vinay Dwivedi