The American Pfizer Laboratory will acquire 8.1% of the capital of the French-Austrian biotechnology Valnja in the amount of 90.5 million euros through a capital increase, Valnja said in a statement on Monday. Under the agreement, Pfizer will invest 90.5 million euros or 8.1% of Valnja’s share capital at a price of 9.49 euros per share by increasing the reserve capital. The move is aimed at strengthening the strategic partnership between the two companies on Lyme disease, says biotechnology.
Pfizer’s investments in Valnja’s capital should be effective on Wednesday. Walnja plans to use the funds to fund his contribution to the third phase of the Lyme Vaccine Program, which is the final phase before commercialization. Pfizer plans to start this study in the third quarter. Valfan և Pfizer also updated the terms of their cooperation և the license agreement for this vaccine candidate. Valnja will now finance 40% of the costs of Phase 3 clinical trials, up from 30% originally planned. Pfizer will pay Valna up to 14% to 22% royalties, up from 19% of the original contract. In addition, these royalties will be supplemented with limit payments of up to $ 100 million. Pfizer may apply for a marketing authorization to US authorities in 2025. This action represents a reduction of approximately 8.1% in the capital of biotechnology. The shareholder holding 1% of Valneva’s capital will now have 0.919% of the capital.
In addition to this Lyme disease vaccine, Valnja develops other serums, including Covid-19. The latter is currently the subject of negotiations with the European Union. Recently, biotechnology called for more orders from European countries for this vaccine in order to be able to comply with the contract with Europe, which initially covered 60 million doses by the end of 2023. These risks have led to a sharp drop in the price of biotechnology stocks in recent months. . Reaching more than 28 euros at the end of November 2021, the stock traded at less than 8 euros when it closed at the Paris Stock Exchange on Friday. The Covid vaccine has already been validated in the United Kingdom, the United Arab Emirates, and the Kingdom of Bahrain, the only country where it is currently marketed.
Source: Le Figaro
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