Oxford Biomedica, which helped AstraZeneca with its Covid-19 vaccine manufacturing, has raised £39.4m in a share placing.
The placing represents 5.6 per cent of the company’s issued share capital to date.
The London-listed gene and cell therapy group launched a placing to raise £80m last week, as it looks to widen its viral vector manufacturing capabilities with US-based Homology Medicines.
Oxford Biomedica announced it would be snapping up an 80 per cent stake in the firm, which is valued at £175m.
The group added that it would partly fund the deal through a £62m loan.
Oxford Biomedica also confirmed last Friday that it was in talks with AstraZeneca to extend its current vaccine supply agreement.
The gene and cell therapy group signed an 18-month master supply and development agreement with AstraZeneca for large-scale manufacturing of a Covid-19 vaccine in September 2020, with an option to extend the agreement through to 2023.
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