Biotech Startup Vaccitech Plc files for U.S. IPO

On Friday, April 9, British biotech startup Vaccitech Plc filed for a U.S. IPO offering. The startup owns the technology behind the COVID-19 vaccine that was developed by Oxford University and AstraZeneca Plc. Vaccitech plans to list the American depositary shares on the Nasdaq under the symbol "VACC". The company intends to raise up to $100 million in the IPO. The biotech initially filed confidentially on Dec. 23, 2020 and received a one-off payment of $2.5 million when it relocated the technology behind the Oxford/AstraZeneca vaccine last year.

Vaccitech opted to trade on the U.S. Nasdaq instead of on the London Stock Exchange. This decision could threaten London's desire to become a "major financial hub", especially after Brexit. The U.K. officially left the EU on Dec. 31, 2020, af...

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