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Serum Institute to invest $68-M for 4% stake in UK vaccine maker Oxford Biomedica

Economic Times  

Pune-based vaccine maker Serum Institute of India (SII) will invest 50 million pounds (USD 68 million) in UK-based Oxford Biomedica to help fund the development of a plant that manufactures COVID-19 shots. Serum Life Sciences Ltd, a unit of India-based SII, will pick up a 3.9% stake in Oxford Biomedica as part of the deal. Oxford Biomedica, spun off from Oxford University in 1995, would use the funds to develop the fallow area at its Oxbox plant into a manufacturing space.