Valneva

2022: Pfizer bought stake in Valneva

In June 2022, it announced the sale of a stake in Valneva to Pfizer. The latter plans to start a phase 3 study of the VLA15 vaccine, which Valneva is developing, in the third quarter of 2022.

As part of the agreement, Pfizer will invest €90.5 million in Valneva in exchange for 8.1% of Valneva's share capital. The purchase price of one share (€9.49) was determined on the basis of the average closing price of the company's shares on Euronext Paris from June 6, 2022 to June 20, 2022. Equity investments are due to close on June 22, 2022. Valneva plans to use the funds raised from Pfizer's equity investment to support its contribution to the development of Phase 3 Lyme disease program.

Pfizer bought a stake in a company developing vaccines against COVID-19

{{quote'Pfizer's investment in Valneva highlights the quality of work we have done together over the past two years and is a strong recognition of Valneva's vaccine expertise. This stock acquisition agreement will facilitate our investment in the Phase 3 study while limiting the impact on our financial position. " Lyme disease is spreading and represents a high unmet medical need that affects the lives of millions of people in the Northern Hemisphere. We look forward to further investigating our candidate VLA15 in Phase 3, which will take us one step closer to potentially helping protect adults and children from this devastating disease, "said Thomas Lingelbach, CEO of Valneva. }} {{quote 'Lyme disease continues to carry a heavy burden for North American and European countries, with approximately 600,000 cases annually in both regions, said Catherine Jansen, senior vice president and head of vaccine research and development at Pfizer. We are pleased to continue working with Valneva to develop the VLA15 and look forward to working together to promote the program with the aim of creating a vaccine that will help prevent this debilitating disease. }} Subject to the successful start and completion of the planned Phase 3 VLA15 study, Pfizer may apply for a Biological License (BLA) with the U.S. Food and Drug Administration (FDA) as early as 2025. ^[1]

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