# EDGAR Filing Document

**Accession Number:** 0001828185
**File Stem:** 0001104659-23-036280
**Filing Date:** 2023-3
**Character Count:** 37097
**Document Hash:** f464f44246c438bad09e75f57301df1a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-036280.hdr.sgml**: 20230324

**ACCESSION NUMBER**: 0001104659-23-036280

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 6

**FILED AS OF DATE**: 20230324

**DATE AS OF CHANGE**: 20230324

**EFFECTIVENESS DATE**: 20230324

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Vaccitech plc
- **CENTRAL INDEX KEY:** 0001828185
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-270815
- **FILM NUMBER:** 23757758

**BUSINESS ADDRESS:**
- **STREET 1:** UNIT 6-10, ZEUS BUILDING
- **STREET 2:** RUTHERFORD AVENUE, HARWELL
- **CITY:** DIDCOT
- **STATE:** X0
- **ZIP:** OX11 0DF
- **BUSINESS PHONE:** 44 (0) 1865 818808

**MAIL ADDRESS:**
- **STREET 1:** UNIT 6-10, ZEUS BUILDING
- **STREET 2:** RUTHERFORD AVENUE, HARWELL
- **CITY:** DIDCOT
- **STATE:** X0
- **ZIP:** OX11 0DF

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Vaccitech Ltd
- **DATE OF NAME CHANGE:** 20201014

**As filed with the Securities and Exchange Commission on March 24, 2023**

**Registration No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT**

***Under***

***The Securities Act of 1933***

**VACCITECH PLC**

**(Exact name of registrant as specified in its charter)**

---

| | |
|:---|:---|
| **England and Wales** | **Not applicable** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(I.R.S. Employer**<br> **Identification Number)** |

---

**Vaccitech plc**

**Unit 6-10, Zeus Building**

**Rutherford Avenue**

**Harwell, Didcot OX11 0DF**

**United Kingdom**

**(Address of Principal Executive Offices)**

**Share Award Plan 2021**

**2021 Employee Share Purchase Plan**

**(Full Title of the Plans)**

**William Enright**

**President**

**Vaccitech North America, Inc.**

**855 N. Wolfe Street, Suite 102**

**Baltimore, MD 21205**

**+1 (410) 916-7930**

**(Name, address, including zip code, and telephone number, including area code, of agent for service)**

***Copies to:***

---

| | |
|:---|:---|
| **Robert E. Puopolo**<br> **Marishka DeToy** **<br> Goodwin Procter LLP<br> 100 Northern Avenue<br> Boston, MA 02210<br> (617) 570-1000** | **Andrew Harrow<br> Goodwin Procter (UK) LLP**<br> **100 Cheapside**<br> **London EC2V 6DY**<br> **United Kingdom**<br> **+44 20 7447 4200** |

---

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ¨ | Accelerated filer | ¨ |
| Non-accelerated filer | ⌧ | Smaller reporting company | ⌧ |
|  |  | Emerging growth company | ⌧ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ◻

**EXPLANATORY NOTE**

This Registration Statement on Form S-8 relating to the Share Award Plan 2021 (the "2021 Plan") and the 2021 Employee Share Purchase Plan (the "2021 ESPP") of Vaccitech plc (the "Registrant") registers additional securities of the same class as other securities for which a registration statement filed on Form S-8 (SEC File No. 333-255664) of the Registrant is effective. Accordingly, the information contained in the Registrant's Registration Statement on [Form S-8 (SEC File No. 333-255664) filed with the Securities and Exchange Commission on April 30, 2021](https://www.sec.gov/Archives/edgar/data/1828185/000110465921059029/tm2035121d17_s8.htm) is hereby incorporated by reference pursuant to General Instruction E.

The number of securities reserved and available for issuance under the 2021 Plan is subject to an automatic annual increase on each January 1 by an amount equal to the lesser of : (i) 4.0% of the issued and outstanding ordinary shares as of January 1 of such year, or (ii) such amount as determined by the Compensation Committee of the Registrant's Board of Directors. Accordingly, on January 1, 2023, the number of ordinary shares reserved and available for issuance under the 2021 Plan increased by 1,507,341 shares. The number of securities reserved and available for issuance under the 2021 ESPP is also subject to an automatic annual increase on each January 1, beginning in 2022, by an amount equal to the least of: (i) 735,136 Shares, (ii) 1.0% of the amount of ordinary shares issued and outstanding on the immediately preceding December 31, or (iii) such lesser number of ordinary shares determined by the Compensation Committee of the Registrant's Board of Directors. Accordingly, on January 1, 2023, the number of ordinary shares reserved and available for issuance under the 2021 ESPP increased by 376,835 shares.

**Part II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 8. Exhibits.**

See the Exhibit Index for a list of exhibits filed as part of this Registration Statement, which Exhibit Index is incorporated herein by reference.

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [5.1\*](tm2310112d1_ex5-1.htm) | [Opinion of Goodwin Procter (UK) LLP, counsel to the Registrant.](tm2310112d1_ex5-1.htm) |
| [23.1\*](tm2310112d1_ex23-1.htm) | [Consent of PricewaterhouseCoopers LLP, independent registered public accounting firm.](tm2310112d1_ex23-1.htm) |
| [23.2\*](tm2310112d1_ex23-2.htm) | [Consent of BDO LLP, independent registered public accounting firm.](tm2310112d1_ex23-2.htm) |
| [23.3\*](tm2310112d1_ex5-1.htm) | [Consent of Goodwin Procter (UK) LLP, counsel to Registrant, (included in Exhibit 5.1).](tm2310112d1_ex5-1.htm) |
| [24.1\*](#POA) | [Power of Attorney (included on signature page to this registration statement).](#POA) |
| [107\*](tm2310112d1_ex-filingfees.htm) | [Filing Fee Table](tm2310112d1_ex-filingfees.htm) |

---

\* Filed herewith.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Village of Harwell, United Kingdom, on the 24th day of March, 2023.

---

| | |
|:---|:---|
| **VACCITECH PLC** | **VACCITECH PLC** |
| By: | /s/ William Enright |
|  | William Enright |
|  | *Chief Executive Officer* |

---

**POWER OF ATTORNEY AND SIGNATURES**

KNOW ALL BY THESE PRESENT, that each individual whose signature appears below hereby constitutes and appoints each of William Enright and Gemma Brown as such person's true and lawful attorney-in-fact and agent with full power of substitution and resubstitution, for such person in such person's name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement on Form S-8, and to file the same, with all exhibits thereto, and all documents in connection therewith, with the Securities and Exchange Commission granting unto each said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as such person might or could do in person, hereby ratifying and confirming all that any said attorney-in-fact and agent, or any substitute or substitutes of any of them, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following person in the capacities and on the date indicated.

---

| | | | |
|:---|:---|:---|:---|
| **Name** | **Name** | **Title** | **Date** |
| /s/ William Enright | /s/ William Enright | *Chief Executive Officer and Director* | March 24, 2023 |
| William Enright | William Enright | *(Principal Executive Officer)* |  |
| /s/ Gemma Brown | /s/ Gemma Brown | *Chief Financial Officer* | March 24, 2023 |
| Gemma Brown | Gemma Brown | *(Principal Financial Officer and Principal Accounting Officer)* |  |
| /s/ Robin Wright | /s/ Robin Wright | *Chairman of the Board of Directors* | March 24, 2023 |
| Robin Wright | Robin Wright |  |  |
| /s/ Alex Hammacher | /s/ Alex Hammacher | *Director* | March 24, 2023 |
| Alex Hammacher | Alex Hammacher |  |  |
| /s/ Pierre Morgon | /s/ Pierre Morgon | *Director* | March 24, 2023 |
| Pierre Morgon | Pierre Morgon |  |  |
| /s/ Dr. Anne M. Phillips | /s/ Dr. Anne M. Phillips | *Director* | March 24, 2023 |
| Dr. Anne M. Phillips | Dr. Anne M. Phillips |  |  |
| /s/ Karen T. Dawes | /s/ Karen T. Dawes | *Director* | March 24, 2023 |
| Karen T. Dawes | Karen T. Dawes |  |  |
| /s/ Dr. Joseph C. F. Scheeren | /s/ Dr. Joseph C. F. Scheeren | *Director* | March 24, 2023 |
| Dr. Joseph C. F. Scheeren | Dr. Joseph C. F. Scheeren |  |  |
| By: | /s/ William Enright | *Authorized Representative in the United States* | March 24, 2023 |
| Name: | William Enright |  |  |
| Title: | Attorney-in-fact |  |  |

---

## Exhibit 5.1

**Exhibit 5.1**

---

| | |
|:---|:---|
| ![LOGO](tm2310112d1_ex5-1img01.jpg) | Goodwin Procter (UK) LLP<br> 100 Cheapside<br> London EC2V 6DY<br> goodwinlaw.com<br> +44 (0) 20 7447 4200 |

---

24 March 2023

Vaccitech plc

Unit 6-10, Zeus Building, Rutherford Avenue, Harwell

Didcot, United Kingdom, OX11 0DF

Ladies and Gentlemen:

**Vaccitech plc – Registration Statement on Form S-8 – Exhibit 5.1**

We have acted as English legal advisers to Vaccitech plc, a public limited company incorporated in England and Wales with registered number 13282620 (the "**Company**") in connection with the preparation and filing of the registration statement on Form S-8 to which this letter is attached as an exhibit (such registration statement, including the documents incorporated by reference therein, the "**Registration Statement**") filed with the U.S. Securities and Exchange Commission pursuant to the U.S. Securities Act of 1933, as amended (the "**Securities Act**"). For the purposes of this letter, the ordinary shares in the capital of the Company each having a nominal value of £0.000025 are referred to as "**Ordinary Shares**".

As set out in the Registration Statement, it is proposed that an aggregate of up to 1,884,176 Ordinary Shares (the "**Shares**") will be allotted and issued upon the exercise or settlement of equity awards granted under: (i) the Vaccitech plc 2021 Share Award Plan as adopted by the board of directors of the Company (the "**Board**") on 8 April 2021 and approved by the Company's shareholders on 21 April 2021 (the "**2021 Plan**"); and (ii) the Vaccitech plc 2021 Employee Share Purchase Plan as adopted by the Board on 8 April 2021 and approved by the Company's shareholders on 21 April 2021 (the "**2021 ESPP**") (collectively the "**Plans**" and each, a "**Plan**").

We understand that the existing issued Ordinary Shares are not, and are not intended to be, admitted to trading on any market or exchange, or otherwise listed, in the United Kingdom.

**1.** **INTRODUCTION** 

1.1 **Purpose** 

In connection with the preparation and filing of a registration statement on Form S-8, we have been asked to provide opinions on certain matters, as set out below. We have taken instruction in this regard solely from the Company.

1.2 **Defined terms and headings** 

In this letter:

&nbsp;&nbsp;&nbsp;&nbsp;(a) capitalised
terms used without definition in this letter or the schedules hereto have the meanings assigned to them in the Registration Statement
unless a contrary indication appears; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) headings are for ease of reference only and shall not affect
interpretation.

Goodwin Procter (UK) LLP is a limited liability partnership registered in England and Wales with registered number OC362294. Its registered office is at 100 Cheapside, London, EC2V 6DY. A list of the names of the members of Goodwin Procter (UK) LLP is available for inspection at the registered office. Goodwin Procter (UK) LLP is authorised and regulated by the Solicitors Regulation Authority. Goodwin Procter (UK) LLP is affiliated with Goodwin Procter LLP, which operates in the United States of America.

![LOGO](tm2310112d1_ex5-1img01.jpg)

Vaccitech plc

24 March 2023

1.3 **Legal review** 

For the purpose of issuing this letter, we have examined such questions of law as we have considered appropriate. We have reviewed the following documents and conducted only the following enquiries and searches:

&nbsp;&nbsp;&nbsp;&nbsp;(a) an online search at Companies House in respect of information
available for inspection on the Company's file conducted on 24 March 2023 at 08.25 am (London time);

&nbsp;&nbsp;&nbsp;&nbsp;(b) an enquiry of the Central Index of Winding Up Petitions,
London on 24 March 2023 at 10.00 am (London time) ((a) and (b) together, the "**Searches** ");

&nbsp;&nbsp;&nbsp;&nbsp;(c) a certificate dated 24 March 2023 signed by the Chief
Executive Officer of the Company (the "**Certificate**") relating to certain factual matters as at the date of the Certificate
and having annexed thereto copies (certified by the Chief Executive Officer of the Company as being true, complete, accurate and up-to-date
in each case) of the following documents:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. a PDF copy of the print of the resolutions passed by the shareholders
of the Company at a general meeting held on 21 April 2021, approving, *inter alia,* the allotment of shares by the directors
or a committee of the directors, or the granting of rights to subscribe for, or to convert any security into, shares on a non-preemptive
basis up to an aggregate nominal amount of £1,100.00 and the adoption of the Plans by the Company (the "**Shareholder Resolutions** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. a PDF copy of the written resolutions of the board of directors
of the Company dated 8 April 2021 pursuant to which it was resolved, *inter alia*, to approve the Plans (the "**Board Resolutions** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. a PDF copy of the consent of an Investor Majority (as defined
in the Articles (as defined below)) dated 21 April 2021, pursuant to which an Investor Majority approved, *inter alia*, the
adoption of the Plans (the "**Investor Majority Consent** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. a PDF copy of the current articles of association of the Company
adopted on 4 May 2021 pursuant to a special resolution dated 21 April 2021 (the "**Articles** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. PDF copies of (a) the certificate of incorporation of
the Company dated 22 March 2021 and (b) the certificate of incorporation on re-registration of the Company as a public limited
company dated 7 April 2021 and the corresponding statement of fact given by the Registrar of Companies on 14 April 2021;

&nbsp;&nbsp;&nbsp;&nbsp;(d) a PDF copy of each Plan; and

&nbsp;&nbsp;&nbsp;&nbsp;(e) a copy of the Registration Statement.

1.4 **Applicable law** 

This letter, the opinions given in it, and any non-contractual obligations arising out of or in connection with this letter and/or the opinions given in it, are governed by, and to be construed in accordance with, English law and relate only to English law as applied by the English courts, including the laws of the European Union to the extent having the force of law in England, as at today's date. In particular:

&nbsp;&nbsp;&nbsp;&nbsp;(a) we have not investigated the laws of any
country other than England and we express no opinion in this letter on the laws of any jurisdiction other than England and we assume
that no foreign law affects any of the opinions given below. It is assumed that no foreign law which may apply to the matters contemplated
by the Registration Statement, the Company, any document or any other matter contemplated by any document would or might affect this
letter and/or the opinions given in it; and

![LOGO](tm2310112d1_ex5-1img01.jpg)

Vaccitech plc

24 March 2023

&nbsp;&nbsp;&nbsp;&nbsp;(b) we do not undertake or accept any obligation to update this letter and/or the opinions given in it to reflect subsequent changes in English law or factual matters.

1.5 **Assumptions and reservations** 

The opinions given in this letter are given on the basis of each of the assumptions set out in schedule 1 (*Assumptions*) to this letter and are subject to each of the reservations set out in schedule 2 (*Reservations*) to this letter. The opinions given in this letter are strictly limited to the matters stated in paragraph 2 (*Opinion*) below and do not extend, and should not be read as extending, by implication or otherwise, to any other matters.

**2.** **OPINION** 

Subject to paragraph 1 (*Introduction*) and the other matters set out in this letter and its schedules, and subject further to the following:

&nbsp;&nbsp;&nbsp;&nbsp;a) the Registration Statement becoming effective under the Securities
Act;

&nbsp;&nbsp;&nbsp;&nbsp;b) the delegation of authority to the compensation committee
of the Board (the "**Compensation Committee**") as set out in the Board Resolutions having been validly effected (*inter alia*, in accordance with the Articles, the Companies Act 2006 as amended (the "**Companies Act**") and the Plans);

&nbsp;&nbsp;&nbsp;&nbsp;c) the Board and the shareholders of the Company having validly
approved the Plans;

&nbsp;&nbsp;&nbsp;&nbsp;d) the Board or the Compensation Committee having validly resolved to allot and issue the Shares, or grant
rights to subscribe for the Shares, at a duly convened and quorate meeting of the Board or the Compensation Committee or by way of duly
passed written resolutions of the Board or the Compensation Committee in compliance with the Plans, all applicable laws and regulations
and such resolutions being in full force and effect and not having been rescinded or amended;

&nbsp;&nbsp;&nbsp;&nbsp;e) that the Shareholder Resolutions were each passed at a meeting
which was duly convened and held in accordance with all applicable laws and regulations (including as to quorum);

&nbsp;&nbsp;&nbsp;&nbsp;f) that the Board Resolutions were each passed by way of circulating
written resolutions of the directors pursuant to the terms of the Articles and the Companies Act (in each case, as applicable);

&nbsp;&nbsp;&nbsp;&nbsp;g) the receipt in full of payment for the Shares in an amount
of "cash consideration" (as defined in section 583(3) of the Companies Act) of not less than the aggregate nominal value
for such Shares; and

![LOGO](tm2310112d1_ex5-1img01.jpg)

Vaccitech plc

24 March 2023

&nbsp;&nbsp;&nbsp;&nbsp;h) valid entries having been made in relation to the allotment
and issue of the Shares in the books and registers of the Company,

it is our opinion that, as at today's date, the Shares, if and when allotted and issued, registered in the name of the recipient in the register of members of the Company and delivered in accordance with the terms and conditions referred to in the Plans and as described in the Registration Statement, will be duly and validly authorised and issued, fully paid or credited as fully paid (subject to the receipt of valid consideration by the Company for the issue thereof) and will not be subject to any call for payment of further capital.

**3.** **EXTENT OF OPINIONS** 

We express no opinion as to any agreement, instrument or other document other than as specified in this letter or as to any liability to tax or duty which may arise or be suffered as a result of or in connection with the transactions contemplated by the Plans.

This letter only applies to those facts and circumstances which exist as at today's date and we assume no obligation or responsibility to update or supplement this letter to reflect any facts or circumstances which may subsequently come to our attention, any changes in laws which may occur after today, or to inform the addressee of any change in circumstances happening after the date of this letter which would alter our opinion.

**4.** **DISCLOSURE AND RELIANCE** 

This letter is addressed to you in connection with the Registration Statement. We consent to the filing of this letter as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations thereunder.

Other than for the purpose set out in the prior paragraph, this letter may not be relied upon, or assigned, for any purpose, without our prior written consent, which may be granted or withheld in our discretion.

Yours faithfully

/s/ Goodwin Procter (UK) LLP

**Goodwin Procter (UK) LLP**

![LOGO](tm2310112d1_ex5-1img01.jpg)

Vaccitech plc

24 March 2023

**SCHEDULE 1**

**ASSUMPTIONS**

The opinions in this letter have been given on the basis of the following assumptions:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the genuineness of all signatures (including electronic signatures),
stamps and seals on all documents, the authenticity and completeness of all documents submitted to us as originals, and the conformity
to original documents of all documents submitted to us as copies;

&nbsp;&nbsp;&nbsp;&nbsp;(b) that, where a document has been examined by us in draft or
specimen form, it will be or has been duly executed in the form of that draft or specimen, and that each of the signed documents examined
by us has been duly executed and, where applicable, delivered on behalf of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;(c) that the Articles referred to in paragraph 1.3(c) of
this letter remain in full force and effect and no alteration has been made or will be made to such articles of association, in each
case prior to the date of the allotment and issue of the Shares (the "**Allotment Date** ");

&nbsp;&nbsp;&nbsp;&nbsp;(d) on the Allotment Date the Company will comply with all applicable laws to allot and issue the Shares and
the Company will receive such amounts as are necessary to fully pay the nominal value of the Shares and any applicable share premium;

&nbsp;&nbsp;&nbsp;&nbsp;(e) that any allotment and issue of Shares which occurs after
the date of this opinion is done in accordance with the terms and limits prescribed by the Shareholder Resolutions and any other restrictions
imposed by either the board of directors (or any committee thereof) or the members of the Company after the date of this letter;

&nbsp;&nbsp;&nbsp;&nbsp;(f) that the Plans have been validly adopted, remain in full
force and effect and no alteration has been made or will be made to the Plans prior to an Allotment Date;

&nbsp;&nbsp;&nbsp;&nbsp;(g) that all documents, forms and notices which should have been
delivered to the Registrar of Companies in respect of the Company have been so delivered, that information revealed by the Searches was
complete and accurate in all respects and has not, since the time of the Searches, been altered and that the results of the Searches
will remain complete and accurate as at the date of the Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;(h) that the contents of the Certificate were true and not misleading
when given and remain true and not misleading as at the date of this letter and there is no fact or matter not referred to in the Certificate
which could make any of the information in the Certificate inaccurate or misleading;

&nbsp;&nbsp;&nbsp;&nbsp;(i) that the resolutions of the shareholders of the Company,
the resolutions of the directors of the Company provided to us in connection with the giving of this opinion and as referred to in paragraph
1.3(c) of this letter or otherwise contemplated in connection with the matters referred to herein were duly passed, all constitutional,
statutory and other formalities were observed in relation to such resolutions and such resolutions have not been revoked or varied and
remain in full force and effect and will remain so as at the Allotment Date and that, prior to the Allotment Date, the Company has not
allotted shares or granted rights to subscribe for, or to convert any security into, shares pursuant to the Shareholder Resolutions which
would, when aggregated with any other allotment of Shares by the Company (whether before or after the date of this letter), result in
the directors exceeding the limits set out in the Shareholders Resolutions;

![LOGO](tm2310112d1_ex5-1img01.jpg)

Vaccitech plc

24 March 2023

&nbsp;&nbsp;&nbsp;&nbsp;(j) that in relation to the allotment and issue of the Shares, the directors of the Company have acted and will act in the manner required
by section 172 of the Companies Act (Duty to promote the success of the Company), and there has not been and will not be any bad faith,
breach of trust, fraud, coercion, duress or undue influence on the part of any of the directors of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;(k) in relation to any allotment and issue of any Shares by the Company pursuant to the Plans, that the recipient
will have become entitled to such Shares under the terms of the relevant Plan such Shares or rights over Shares will, where applicable,
be fully vested each in accordance with the terms of the relevant Plan and such recipient has or will have complied with all other requirements
of the relevant Plan in connection with the allotment and issue of such Shares;

&nbsp;&nbsp;&nbsp;&nbsp;(l) that all awards have been made under the terms of the relevant Plan, that the terms of all awards have
not materially deviated from the terms set out in the relevant Plan and that any Shares will be allotted and issued in accordance with
the terms set out in the relevant Plan and in accordance with the Articles;

&nbsp;&nbsp;&nbsp;&nbsp;(m) that no Shares or rights to subscribe for Shares have been or shall be offered to the public in the United
Kingdom in breach of the Financial Services and Markets Act 2000 ()"**FSMA**") or of any other United Kingdom laws or regulations
concerning offers of securities to the public, and no communication has been or shall be made in relation to the Shares in breach of section
21 of the FSMA or any other United Kingdom laws or regulations relating to offers or invitations to subscribe for, or to acquire rights
to subscribe for or otherwise acquire, shares or other securities;

&nbsp;&nbsp;&nbsp;&nbsp;(n) that the Company has not taken any corporate or other action nor have any steps been taken or legal proceedings
been started against the Company for the liquidation, winding up, dissolution, reorganisation or bankruptcy of, or for the appointment
of a liquidator, receiver, trustee, administrator, administrative receiver or similar officer of, the Company or all or any of its assets
(or any analogous proceedings in any jurisdiction) and the Company is not unable to pay its debts as they fall due within the meaning
of section 123 of the Insolvency Act 1986 and will not become unable to pay its debts within the meaning of that section as a result of
any of the transactions contemplated herein, is not insolvent and has not been dissolved or declared bankrupt (although the Searches gave
no indication that any winding-up, dissolution or administration order or appointment of a receiver, administrator, administrative receiver
or similar officer has been made with respect to the Company); and

&nbsp;&nbsp;&nbsp;&nbsp;(o) the Company is not, nor will be, engaging in criminal, misleading, deceptive or unconscionable conduct
or seeking to conduct any relevant transaction or any associated activity in a manner or for a purpose which might render any transaction
contemplated under any corporate approvals or any associated activity illegal, void or voidable.

![LOGO](tm2310112d1_ex5-1img01.jpg)

Vaccitech plc

24 March 2023

**SCHEDULE 2**

**RESERVATIONS**

The opinions in this letter are subject to the following reservations:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Searches are not capable of revealing conclusively whether
or not a winding-up or administration petition or order has been presented or made, a receiver appointed, a company voluntary arrangement
proposed or approved or any other insolvency proceeding commenced, and the available records may not be complete or up-to-date. In particular,
the Central Registry of Winding-Up Petitions in England may not contain details of administration applications filed, or appointments
recorded in or orders made by, district registries and county courts outside London. Searches at Companies House and at the Central Registry
of Winding Up Petitions in England are not capable of revealing whether or not a winding up petition or a petition for the making of
an administration order has been presented and, further, notice of a winding up order or resolution, notice of an administration order
and notice of the appointment of a receiver may not be filed at Companies House immediately and there may be a delay in the relevant
notice appearing on the file of the company concerned. Further, not all security interests are registrable, such security interests have

We have not made enquiries of any District Registry or County Court in England;

&nbsp;&nbsp;&nbsp;&nbsp;(b) the opinions set out in this letter are subject to: (i) any
limitations arising from applicable laws relating to insolvency, bankruptcy, administration, reorganisation, liquidation, moratoria,
schemes or analogous circumstances; and (ii) an English court exercising its discretion under section 426 of the Insolvency Act
1986 (*co-operation between courts exercising jurisdiction in relation to insolvency*) to assist the courts having the corresponding
jurisdiction in any part of the United Kingdom or any relevant country or territory;

&nbsp;&nbsp;&nbsp;&nbsp;(c) if any agreement is entered into for a purpose prohibited
by sections 678 and 679 of the Companies Act 2006, it will be void;

&nbsp;&nbsp;&nbsp;&nbsp;(d) we express no opinion as to matters of fact;

&nbsp;&nbsp;&nbsp;&nbsp;(e) we express no opinion as to taxation matters;

&nbsp;&nbsp;&nbsp;&nbsp;(f) save for the matters set out in the Certificate, we have
made no enquiries of any individual connected with the Company and have relied entirely on the facts, statements and confirmations contained
in the Certificate and we have not undertaken any independent investigation or verification of the matters referred to in the Certificate;

&nbsp;&nbsp;&nbsp;&nbsp;(g) a certificate, documentation, notification, opinion or the
like might be held by the English courts not to be conclusive if it can be shown to have an unreasonable or arbitrary basis or in the
event of a manifest error; and

&nbsp;&nbsp;&nbsp;&nbsp;(h) it should be understood that we have not been responsible
for investigating or verifying (i) the accuracy of the facts, including statements of foreign law, or the reasonableness of any
statements of opinion, contained in the Registration Statement; or (ii) that no material facts have been omitted from it.

## Exhibit 23.1

**Exhibit 23.1**

<u>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</u>

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of Vaccitech plc of our report dated March 24, 2023, relating to the financial statements which appears in Vaccitech plc's Annual Report on Form 10-K for the year ended December 31, 2022.

/s/ PricewaterhouseCoopers LLP<br> Reading, United Kingdom<br> March 24, 2023

## Exhibit 23.2

**Exhibit 23.2**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

Vaccitech plc

Didcot, United Kingdom

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of Vaccitech plc of our report dated March 25, 2022, relating to the consolidated financial statements of Vaccitech plc, appearing in the Company's Annual Report on Form 10-K for the year ended December 31, 2022.

/s/ BDO LLP

BDO LLP

London, United Kingdom

March 24, 2023

## Ex-Filing

**Exhibit 107**

**Form S-8**

(Form Type)

**Vaccitech plc**

(Exact Name of Registrant as Specified in its Charter)

<u>Table 1: Newly Registered Securities</u>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Security<br> Type** | &nbsp;&nbsp;**Security Class<br> Title(1)** | &nbsp;&nbsp;**Fee<br> Calculation<br> Rule** | &nbsp;&nbsp; **Amount<br> to be<br> Registered (2)** | &nbsp;&nbsp; **Proposed<br> Maximum<br> Offering Price<br> per Share** | &nbsp;&nbsp; **Maximum<br> Aggregate<br> Offering Price** | &nbsp;&nbsp;**Fee Rate** | &nbsp;&nbsp; **Amount of<br> Registration Fee** |
| &nbsp;&nbsp;Equity | &nbsp;&nbsp;Ordinary shares, nominal value £0.000025 per share | &nbsp;&nbsp;Rule 457(c) and Rule 457(h) | &nbsp;&nbsp;1,507,341 shares (3) | &nbsp;&nbsp;$2.94 (5) | &nbsp;&nbsp;$4431582.54 | &nbsp;&nbsp;$0.00011020 | &nbsp;&nbsp;$488.37 |
| &nbsp;&nbsp;Equity | &nbsp;&nbsp;Ordinary shares, nominal value £0.000025 per share | &nbsp;&nbsp;Rule 457(c) and Rule 457(h) | &nbsp;&nbsp;376,835 shares (4) | &nbsp;&nbsp;$2.50 (6) | &nbsp;&nbsp;$942087.50 | &nbsp;&nbsp;$0.00011020 | &nbsp;&nbsp;$103.82 |
| &nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;**Total Offering Amounts** |  | &nbsp;&nbsp;$5373670.04 |  | &nbsp;&nbsp;-- |
| &nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;**Total Fees Previously Paid** |  |  |  | &nbsp;&nbsp;-- |
| &nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;**Total Fee Offsets** |  |  |  | &nbsp;&nbsp;-- |
| &nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;**Net Fee Due** |  |  |  | &nbsp;&nbsp;$592.19 |

---

(1) These shares may be represented by the American Depositary Shares
("ADSs") of Vaccitech plc (the "Registrant"). Each ADS represents one Ordinary Share. ADSs issuable upon deposit
of the Ordinary Shares registered hereby were registered pursuant to a separate Registration Statement on Form F-6 (File No. 333-255237).

(2) Pursuant to Rule 416 under the Securities Act of 1933,
as amended (the "Securities Act"), this Registration Statement shall also cover any additional ordinary shares of the Registrant
which become issuable under the above-named plans by reason of any stock dividend, stock split, recapitalization or any other similar
transaction effected without the receipt of consideration which results in an increase in the number of the Registrant's outstanding
ordinary shares.

(3) Represents an automatic increase on January 1, 2023 to
the number of shares available for issuance under the Registrant's Share Award Plan (the "2021 Plan"), pursuant to
the terms of the 2021 Plan. Shares available for issuance under the 2021 Plan were previously registered on Form S-8 filed with
the Securities and Exchange Commission on April 30, 2021 (Registration No. 333-255664).

(4) Represents an automatic increase on January 1, 2023 to
the number of shares available for issuance under the Registrant's 2021 Employee Share Purchase Plan (the "2021 ESPP"),
pursuant to the terms of the 2021 ESPP. Shares available for issuance under the 2021 ESPP were previously registered on Form S-8
filed with the Securities and Exchange Commission on April 30, 2021 (Registration No. 333-255664).

(5) The price of $2.94 per share, which is the average of the high
and low sale prices of the ADSs of the Registrant as quoted on the Nasdaq Global Market on March 20, 2023, is set forth solely for
purposes of calculating the registration fee pursuant to Rules 457(c) and 457(h) of the Securities Act, and has been used
as these shares are without a fixed price.

(6) The price of $2.50 per share, which is 85% of the average of
the high and low sale prices of the ADSs of the Registrant as quoted on the Nasdaq Global Market on March 20, 2023, is set forth
solely for purposes of calculating the registration fee pursuant to Rules 457(c) and 457(h) of the Securities Act, and
has been used as these shares are without a fixed price. Pursuant to the 2021 ESPP, the purchase price of the shares of Ordinary Shares
reserved for issuance thereunder will be 85% of the fair market value of an Ordinary Share on the first trading day of the offering period
or on the exercise date, whichever is less.