The American pharmaceutical group Pfizer has agreed to invest 90.5 million euros in the purchase of 8.1% of the French vaccine company Valneva, as the companies announced developments in their cooperation in the treatment of Lyme disease.
Pfizer will acquire the stake in Valneva, which is also working on the coronavirus vaccine, at a price of 9.49 euros per share, through a committed capital increase.
Valneva’s share rose sharply by 14.5% to 9.09 euros.
The company will use the proceeds from Pfizer’s investment to support its contribution to the development of Phase 3 for the Lyme disease program.
Valneva and Pfizer also updated the terms of their partnership and the licensing agreement they announced on April 30, 2020 for the Lyme vaccine candidate, VLA15.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
