Valneva nets €25M loan to fund vax pipeline work

On the heels of a $42 million supply contract with the U.S. Department of Defense, France’s Valneva has netted another big funding source. Through a loan with the European Investment Bank, the biotech will have access to €25 million to fund vaccine pipeline work.

Valneva, which currently markets vaccines against Japanese encephalitis and cholera, will put the money to use in areas including Lyme disease, the only such program in the industry, and Zika, according to a release.

While it’s set to enter Phase I with its Lyme disease candidate yet this year, the company is also working on vaccines against Pseudomonas aeruginosa--which failed to meet its primary endpoint in a Phase II/III trial--and Clostridium difficile. The Lyon-based company is seeking to lock down a partnership on that candidate, which it says is “Phase III ready.”

Whitepaper

Simplify and Accelerate Drug R&D With the MarkLogic Data Hub Service for Pharma R&D

Researchers are often unable to access the information they need. And, even when data does get consolidated, researchers find it difficult to sift through it all and make sense of it in order to confidently draw the right conclusions and share the right results. Discover how to quickly and easily find, synthesize, and share information—accelerating and improving R&D.

EIB's loan follows a $42 million supply contract the company inked with the U.S. Department of Defense in March for Ixiaro, a Japanese encephalitis vaccine.

Last year, Valneva brought in revenues and grants worth €83.3 million, a 96.4% increase over 2014’s total of €42.4 million, but still €8.5 million short of expenses. The company said it expects to break even in 2016.

- here’s the release

Related Articles:
Valneva scores $42M supply contract with DOD
PaxVax's cholera vaccine wins FDA nod

Read more on

Suggested Articles

The efficacy between Keytruda and FerGene's nadofaragene firadenovec look comparable in their studies, though Merck has at least one upper hand.

Thursday, the FDA approved the first three generic versions of Gilenya, but they may not hit the market anytime soon due to ongoing litigation.

Gilead is hoping to score a patent extension on TAF meds, but patient advocates say that would reward conduct that harmed patients.