UPDATE 1-Oxford COVID-19 vaccine tech maker Vaccitech targets $613 mln valuation in U.S. IPO

(Adds fundamental facets from company submitting, background)

April 13 (Reuters) - Biotech startup Vaccitech, which co-invented the COVID-19 vaccine developed by AstraZeneca Plc and Oxford University, stated on Monday it changed into once aiming for a valuation of up to $613 million in its U.S. preliminary public offering.

The corporate, which has construction programs for stipulations including hepatitis B, prostate most cancers and non-puny cell lung most cancers, has raised $216 million to this level from Gilead Sciences , Sequoia Capital China and Oxford Sciences Innovation amongst others.

The UK-basically based mostly company, spun out of Jenner Institute on the Oxford University in 2016, stated it plans to listing its American Depositary Shares (ADS) on Nasdaq below the ticker symbol "VACC".

It stated it changed into once offering 6.5 million ADSs, each and each representing one strange share, priced between $16 and $18 each and each. On the tip kill of the fluctuate, the IPO would rake in $117 million for Vaccitech.

The corporate intends to utilize proceeds from the offering to fund its ongoing clinical programs and its early-stage research and construction.

Morgan Stanley, Jefferies, Barclays, William Blair and H.C. Wainwright & Co are the underwriters for the offering. (Reporting by Niket Nishant and Manojna Maddipatla in Bengaluru; Bettering by Shinjini Ganguli)

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