Oxford biotech behind the Oxford AstraZenica vaccine raises $168 million

By Nicky Godding

18 March 2021

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Vaccitech Ltd, the Oxford-based clinical-stage biopharmaceutical company behind the Oxford AstraZeneca vaccine, has raised $168 million in a Series B financing.

The round was led by M&G Investment Management (part of M&G plc), with further participation from new investors including Tencent, Gilead Sciences, Monaco Constitutional Reserve Fund, and Future Planet Capital among others. The Series B financing round was also supported by existing investors, including Oxford Sciences Innovation.

Bill Enright, Chief Executive Officer of Vaccitech, said: “We now look forward to advancing key programs towards generating proof-of-concept data in indications with significant need of effective new treatments."

The financing will support the continued development of three infectious disease and immuno-oncology programs. The programs include:

A Phase 1/2 clinical trial in patients with chronic hepatitis B virus (HBV) infection. The first patient in the trial was dosed in February 2021.
A Phase 1/2 clinical trial in patients with persistent, high-risk human papillomavirus (HPV) infection.
A Phase 1/2 clinical trial in patients with prostate cancer.

Jack Daniels, Chief Investment Officer of M&G plc, added: “Vaccitech is aiming to address serious global public health challenges in both infectious disease and cancer with their T cell inducing immunotherapy platform. We believe their innovative approach, based on foundational research performed at the Jenner Institute at the University of Oxford, could provide a solution for many serious diseases.”

Vaccitech was founded in 2016 by Professor Sarah Gilbert and Professor Adrian Hill as a spin out from Oxford University's Jenner Institute, one of the most prestigious vaccine centres in the world. According to reports, is looking to launch on the New York Stock Exchange later this year. The company is based at the Oxford Science Park.

By Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.