The Serum Institute of India’s £50 Million Investment in Oxford Biomedica

Covington & Burling advised Oxford Biomedica on the deal.

The Serum Institute of India, the world’s largest vaccine maker, has agreed, via its subsidiary Serum Life Sciences Ltd, to invest just over £50m in Oxford Biomedica, one of AstraZeneca’s manufacturers for Covid-19 vaccines. Covington advised Oxford Biomedica on the transaction.

The UK vaccine maker will use the funds to expand its facilities in Oxford, including additional capacity for viral vector-based products such as vaccines. The Serum Institute will receive ordinary shares comprising 3.9 per cent of the UK-based cell and gene therapy company’s outstanding shares as part of the deal.

Covington’s team was led by partner Paul Claydon (Picture) and included associate Trudy Dargeviciute.

Involved fees earner: Paul Claydon – Covington & Burling LLP; Trudy Dargeviciute – Covington & Burling LLP;

Law Firms: Covington & Burling LLP;

Clients: Oxford Biomedica plc;

Author: Martina Bellini