Covington Advises Oxford Biomedica on £50m Investment by the Serum Institute of India

LONDON—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 and included associate Trudy Dargeviciute.