Valneva and Pfizer Enter into an Equity Subscription Agreement and Update Terms of Collaboration Agreement for Lyme Disease Vaccine Candidate VLA15
Valneva is planning to use the proceeds from Pfizers equity investment to support its Phase 3 development contribution to the Lyme disease program.
- Valneva is planning to use the proceeds from Pfizers equity investment to support its Phase 3 development contribution to the Lyme disease program.
- In addition, Valneva and Pfizer updated the terms of their collaboration and license agreement which they announced on April 30, 20201.
- Valneva will now fund 40% of the remaining shared development costs compared to 30% in the initial agreement.
- Pfizer will pay Valneva tiered royalties ranging from 14% to 22%, compared to royalties starting at 19% in the initial agreement.