Valneva and Pfizer Announce Closing of Equity Investment

Valneva SE and Pfizer Inc. announced the closing of the equity investment announced on June 20, 2022.

Pursuant to an Equity Subscription Agreement, Pfizer has invested €90.5 ($95) million in Valneva, representing 8.1% of Valneva’s share capital at a price of €9.49 per share, through a reserved capital increase. Valneva is planning to use the proceeds to support its contribution to the planned Phase 3 development program for Lyme disease vaccine candidate VLA15. Pfizer plans to initiate the Phase 3 study of VLA15 in the third quarter of 2022.