Vaccitech completes $168 million financing

UK-based Vaccitech said today it has raised $168 million in a Series B financing. This includes $43 million in convertible loan notes previously issued by Vaccitech that converted into Series B shares.

The Series B financing 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.

Vaccitech, an Oxford University spin-out, was instrumental in the development of COVID-19 Vaccine AstraZeneca, earlier dubbed AZD1222. AstraZeneca (LSE: AZN) gained rights to the vaccine, which has been approved for the pandemic in the European Union, UK and many other countries, and has already been used in dozens of millions of patients.