Shares surge as US pharma group to pay €90.5m for 8% in deal that will boost joint Lyme disease programmeValneva and Pfizer also updated the terms of their collaboration and license agreement which they announced on April 30, 2020 for the Lyme disease vaccine candidate VLA15.. Photograph: iStockPfizer has agreed to pay €90.5 million for an 8.1 per cent stake in Valneva, in a move that will bolster the French vaccine company’s Lyme disease programme.
The transaction will be seen as a vote of confidence in Valneva, which has weathered turmoil with its Covid-19 vaccine candidate. Shares in the company jumped more than 20 per cent in morning trading in Paris. Pfizer shares were largely unchanged before the market open in New York. The EU last month also terminated its procurement contract for the shot amid slowing demand for Covid-19 vaccines. Valneva is in talks with Brussels and member states over the way forward, it has said, while the European Medicines Agency continues its review of the shot. The vaccine has received conditional approval from the UK drugs watchdog.
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