(Update: stock market reaction)
PARIS (Agefi-Dow Jones)–The biotechnology company Valneva announced on Tuesday that it has signed an agreement allowing it to increase by $40 million the principal amount of its existing financing agreement with the American funds Deerfield Management Company and OrbiMed. .
The increase in the financing agreement, which was initially for an amount of $60 million, will give Valneva immediate access to $20 million, with an additional $20 million available if the company obtains a marketing authorization. the conditional market for its Covid-19 vaccine candidate in Europe, Valneva said in a statement.
In response to this announcement, Valneva shares rose 2.6% at the start of trading on Tuesday, to 13.29 euros.
“This additional funding will be invested in R&D and in preparation for the potential commercial launch of Valneva’s chikungunya vaccine candidate, VLA1553,” Valneva said.
“The interest rate on the loan remains unchanged. The period during which payments are limited to interest has been extended to the third quarter of 2024, and the loan will now mature in the first quarter of 2027,” Valneva added.
Regarding the vaccine candidate against Lyme disease, developed with the American laboratory Pfizer, Valneva announced, in a separate press release, positive pediatric data as part of its Phase 2 trial on participants aged five to 17 years.
“As in adults, the immunogenicity and safety data support a three-dose vaccination schedule for pediatric participants in the future Phase 3 trial,” Valneva said.
Lyme disease is a systemic infection caused by bacteria transmitted to humans by ticks.
-Alice Doré, Agefi-Dow Jones; +33 (0)1 41 27 47 90; [email protected] ed: VLV
(Dimitri Delmond contributed to this article)
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April 26, 2022 03:13 ET (07:13 GMT)