(Finance) – PfizerUS pharmaceutical company, will invest 90.5 million euros in ValnevaFrench biotechnology company, acquiring 8.1% of the capital at a price of € 9.49 per share, through a reserved capital increase to further support the strategic partnership between the two companies on the Lyme disease vaccine.
The two realities have entered into an Equity Subscription Agreement and have updated the terms of their partnership and licensing agreement for the Lyme disease vaccine candidate. The equity investment is expected to close on June 22, 2022. Valneva expects to use the proceeds of Pfizer’s equity investment for support its contribution to Phase 3 development to the Lyme disease program, a statement read.
“Pfizer’s investment in Valneva highlights the quality of the work we have done together over the past two years and it is a strong recognition of Valneva’s expertise in vaccines, “commented Thomas Lingelbach, CEO of Valneva.
Take flight Valnevawhich stands at 9.28, with an increase of 16.86%. Operationally, expectations are for a continuation of the day in a positive sense with resistance seen in the 9.57 area and subsequently at 10.17. Support at 8,959.