Valneva SE (VALN, VLA), a French vaccine manufacturer specializing in infectious diseases, on Monday unveiled a new update to its COVID-19 vaccine business.
The company said it is in active talks with a prospective spouse to prospectively fund the progress of a potential second-generation COVID-19 vaccine. Those ongoing talks may continue for several months and fail to reach an agreement, he said.
Valneva had previously reported that it would only invest in the further progression of the second-generation COVID-19 vaccine if it won the mandatory investment or commitments for such funding in Q3 2022.
The corporate is also in talks with governments and has initiated regulatory processes with other regulatory authorities, with the aim of deploying the remaining stock in foreign markets over the next twelve months.
Thomas Lingelbach, CEO of Valneva, said: “As we move towards the end of the third quarter of 2022, we are engaged in active discussions that are expected to continue in the coming months. We plan to continue exploring those potential investment opportunities and will provide long-term updates when we reach an agreement for further progress of our COVID-19 vaccine program. “
VLA2001 is produced on Valneva’s established Vero-cell platform, leveraging Valneva’s licensed Japanese encephalitis vaccine production technology, IXIARO.
VLA2001 is the first COVID-19 vaccine to obtain a marketing authorisation in Europe.
Valneva recently has agreements to supply VLA2001 to certain EU Member States and the Kingdom of Bahrain.
The company said it has shares for potential future sources to those EU member states if demand increases.
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