M&G led the $168m Series B financing round of Vaccitech, the company that co-invented a COVID-19 vaccine with the University of Oxford, with a $50m capital investment.
Vaccitech will use the funding to apply its technology platform that was behind the COVID-19 vaccine to progress infectious disease and immuno-oncology programs, including treatments for hepatitis B, human papillomavirus (HPV) infection, and prostate cancer.
The investment has been made by M&G’s newly formed Catalyst team, who are investing in global private assets with a focus on sustainability. Catalyst won a £5bn mandate from the £143bn ($200bn) Prudential With-Profits Fund.