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.