Valneva adds $95M in equity deal with partner Pfizer

Amends 2020 deal for Phase III Lyme disease candidate VLA15

June 20, 2022 9:37 PM UTC

Valneva is adding some cushion to its cash position through an equity purchase agreement with partner Pfizer.

The French vaccines company Valneva SE (Euronext:VLA; NASDAQ:VALN) said it agreed to sell an 8.1% stake to partner Pfizer Inc. (NYSE:PFE) for €90.5 million ($95.2 million) as part of an amendment to their 2020 deal to co-develop and commercialize VLA15, a Valneva Lyme disease vaccine. ...

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