Vaccitech, which develops T cell immunotherapies and vaccines for cancers, COVID-19, and other diseases, announced terms for its IPO on Monday.
The Oxford, United Kingdom-based company plans to raise $111 million by offering 6.5 million ADSs at a price range of $16 to $18. At the midpoint of the proposed range, Vaccitech would command a fully diluted market value of $614 million.
Vaccitech is a clinical-stage biopharmaceutical company engaged in the discovery and development of novel immunotherapeutics and vaccines for the treatment and prevention of infectious diseases and cancer. The company utilizes its proprietary platform to develop a broad pipeline of both clinical and preclinical stage therapeutic and prophylactic programs, including VTP-300 for the treatment of chronic hepatitis B infection, VTP-200 for the treatment of HPV, VTP-850 for the treatment of prostate cancer, and VTP-600 for the treatment of non-small cell lung cancer. Current prophylactic programs include VTP-400 for the prevention of shingles, and VTP-500 for the prevention of Middle East respiratory syndrome. Vaccitech has also co-invented a COVID-19 vaccine candidate with the University of Oxford, which was licensed to AstraZeneca.
Vaccitech was founded in 2016 and plans to list on the Nasdaq under the symbol VACC. It had been on our Private Company Watchlist since April 2021. Morgan Stanley, Jefferies, Barclays and William Blair are the joint bookrunners on the deal. It is expected to price during the week of April 26, 2021.
