Landmark partnership announced for development of COVID-19 vaccine

April 30, 2020

BY Alexander Kalis

Milltrust is proud to share some hugely important news for the British Innovation Fund which is an early backer of Oxford health tech and therapeutics through its investment in Oxford Sciences Innovation. Milltrust is working with the Vaccitech team to develop the platform and support the research and development of future vaccines.

The partnership is to begin immediately with the final terms being agreed in the coming weeks.  This will allow for rapid vaccination around the world if the COVID-19 vaccine candidate proves to be effective. The vaccine candidate was developed by the University’s Jenner Institute who began trials in humans last week jointly with the University’s Oxford Vaccine Group.

It is the first such partnership to be formed since the Government launched its dedicated Vaccines Taskforce to help find, test and deliver a new coronavirus vaccine just two weeks ago.  It also comes alongside £20 million Government funding for Oxford University’s vaccine research and support for the institution’s clinical trials.

Under the new agreement, as well as providing UK access as early as possible if the vaccine candidate is successful, AstraZeneca will work with global partners on the international distribution of the vaccine, particularly working to make it available and accessible for low and medium income countries.

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Vaccitech’s series A post-money valuation of the company was 86 million USD and the company is now seeking a minimum of 55 million USD which will fund the COVID-19 vaccine development, in addition to its other ongoing work, allowing the firm to manufacture tens of millions of doses later this year.

For more information on how to invest in Vaccitech, please contact us. For Professional Investors only.