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Valneva launches a capital increase to develop its vaccines


The Franco-Austrian laboratory plans to issue 5.5 million new shares to investors in France and the United States.

The Franco-Austrian laboratory Valneva announced Tuesday evening that it wanted to launch a capital increase of several hundred million euros in order to finance the development of several of its vaccine candidates, including that against Covid-19.

Valneva plans to issue 5.5 million new shares to investors in the United States and France.

Read also Anti-Covid vaccine: the French nugget Valneva plays its all-out

The price per share has not yet been determined.

It "

will be at least equal to the weighted average of the price of the shares of the company listed on Euronext, over a period chosen by the management

", possibly reduced by a maximum discount of 15%, describes the press release.

"Positive initial" results

Valneva plans to use the funds raised during this capital increase to finance the development of several vaccine candidates.

Around $ 100 million will thus be dedicated to its candidate vaccine against Covid-19.

The laboratory reported last week of "

initial positive

" results in the context of its phase 3 trials for this vaccine candidate, giving color to the action on the Paris Stock Exchange.

She suffered after the British government terminated its contract for 100 million doses of this future vaccine in September.

Read also BioNTech will launch in 2022 the site of vaccine production plants in Africa

About $ 60 million of the fundraising will go to its vaccine candidate against chikungunya, $ 50 million to that against Lyme disease.

Valneva also intends to dedicate approximately $ 20 million to finance the transition of its products from the pre-clinical stage to the clinical stage.

Source: lefigaro

All business articles on 2021-10-27

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