Business

Covid-19 vaccine tech startup Vaccitech falls 20% in its market debut

By Yukta Samvedi

Vaccitech plc, a biotechnology company developing vaccines and immunotherapies for diseases like cancer and hepatitis fell nearly 20% in Nasdaq, its share market debut. The startup that co-invented the COVID-19 vaccine developed by AstraZeneca Plc and Oxford University now has a  market value of about $464 million.

The UK-based company spun out of Jenner Institute at the Oxford University in 2016 had raised $216 million to date from Gilead Sciences, Sequoia Capital China, and Oxford Sciences Innovation shares opened at $13.62, below the initial public offering price of $17.

 

Tags: #equity #vaccitech coronavirus COVID-19 IPO Vaccine

Yukta Samvedi

"Yukta Samvedi, a business enthusiast and Economics student is currently pursuing her passion for the world of media and commerce by working as a Business and Current Affairs Journalist at USAnewshour."