Britain today approved the Oxford/AstraZeneca Covid-19 vaccine, paving the way for millions to receive the jab within weeks and offering hope that the UK could be ‘out’ of the coronavirus crisis by the spring. Oxford professors Sarah Gilbert and Adrian Hill – who helped develop the jab – stand to make millions of pounds through start-up Vaccitech, which created the experimental shot alongside experts at the university’s Jenner Institute. Vaccitech is a private firm which owns intellectual property used in the vaccine’s development. They together own about 10 per cent of the Oxford-based company, which will benefit both from royalties from the vaccine and ‘milestone’ payments. However the money can only be paid out once the pandemic is declared to have finished, according to the company’s royalty agreement with Oxford. The ‘milestone’ payments are negotiated amounts based on landmarks such as regulatory approval, according to the Wall Street Journal. The firm was valued at £65.8million last year before the pandemic hit. The pair will also be entitled to their share of revenue if the Covid-19 jab is sold for profit. Oxford University also stands to make hundreds of millions of pounds, after it secured a deal to give the institution 6… Read full this story
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