The UK-backed vaccine manufacturer is reporting export restrictions on IPO filings
Valneva, a French government-sponsored Covid-19 vaccine from the UK government, has called for an initial US public offering in an attempt to take advantage of the pandemic’s hunger for biotech investors.
The Paris-listed company, with a market of more than a billion euros, raised $ 100 million in American Deposit Shares the next day VaccitechThe Oxford spinout, which owns the platform behind the AstraZeneca vaccine, was published archiving.
Valneva It has an agreement of up to € 1.4 million to supply Covid-19 vaccines to the UK to manufacture the doses at a Scottish factory deployed with government funds. The UK has agreed to buy a 100m shot and has the option to buy an additional 90m by 2025. Valneva has received nearly £ 100 million from the government.
In his presentation, Valneva warned that restrictions on imports or exports of vaccines outside the EU could pose a “significant” risk to their functioning. The vaccine is to be manufactured in the UK, but said it needs to be packaged and packaged in the EU.
It has caused shortages in the supply of vaccines to the EU Tensions between the UK and the EU More than importing current ownership plans and raw materials approved by Oxford / AstraZeneca and BioNTech / Pfizer.
It comes after the Valneva archive was announced positive initial test results he plans to launch an exam later this week for his Covid-19, and apply for UK approval in the autumn.
Phase 1 and 2 studies showed that shooting caused more antibodies among participants receiving the highest dose than is commonly seen in recovered Covid-19 patients, with more than 90 percent producing significant antibody levels. Jab triggered the response of another key part of the immune system, T cells.
The vaccine, which uses a completely inactivated virus, has a more traditional approach than currently accepted shots, can be used to vaccinate or to fight variants of the virus.
Valneva said that although it would be accepted much later, it could have the advantage of competitors against its opponents.
“We believe that, if accepted, our vaccine, as an inactivated virus vaccine, can offer benefits in terms of safety, cost, ease of manufacture and distribution, compared to currently approved vaccines, and can be adapted to provide protection against virus mutations,” he said in the file.
But he said he still did not have the right to use the vaccine virus strain in the commercial market. It is in the process of negotiating a trade agreement with the World Health Organization and the Italian National Institute of Infectious Diseases.
Valneva is also developing vaccines against Lyme disease and the mosquito-infected virus. Revenues totaled € 110 million in 2020, down from € 126 million in 2019 as travel vaccine sales were driven by restrictions on pandemic travel.
It had a loss of 0.71 euros per share last year, when it had to make a reduction of 7.4 million euros, partly due to the limited duration of the products. Valneva had to renegotiate a debt financing agreement last year as there was a risk of non-compliance with the minimum income pact.