If Oxford’s Covid-19 vaccine is successful, layers of private investors could benefit

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In the race for the Covid-19 vaccine, the University of Oxford stands out. The school’s 900-year-old Jenner Institute competes with a number of large, publicly-traded pharmaceutical companies whose investors could win generously with one effective stroke.

Even in Oxford, however, layers of private investors are poised to take advantage behind the scenes if the vaccine works. They include the university itself, two of the scientists at the programme’s research center, and a little-known investment company started last year by a former…

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