Vaccitech to acquire Avidea Technologies

Thursday 16 December 2021
Country

United Kingdom

Vaccitech Plc, co-inventor of the Oxford-AstraZeneca Covid-19 vaccine, is to acquire a US company with a complementary technology platform, positioning it for a further geographical expansion. The target company, Avidea Technologies Inc, has a similar research history to Vaccitech, but a different discovery platform. Vaccitech is paying $40 million upfront for Avidea of which $12.5 million is cash and $27.5 million is in shares. There is also a possibility of milestone payments. Vaccitech is listed on the US Nasdaq market.