Valneva announces expanded financing agreement with

  • Up to an additional $40 million made available under the deal

HolyHerblain (France), April 26, 2022 – Valneva SE (Nasdaq: VALN; Euronext Paris: VLA), a vaccines company, today announced an agreement to increase the principal amount of its existing $60 million debt financing agreement with managed funds by leading US-based healthcare investment firms Deerfield Management Company and OrbiMed. This extension will provide Valneva with immediate access to $20 million, with an additional $20 million available in the event of potential conditional approval of its inactivated COVID-19 vaccine candidate, VLA2001, by the European Medicines Agency. The increased funding will be used to further invest in R&D, including market access preparations for Valneva’s chikungunya vaccine candidate, VLA1553.

Rock BühlerChief Financial Officer Valneva Officer, said, “We are extremely pleased to have access to additional non-dilutive funding from our existing funding partners. The extension of our loan provides additional flexibility to execute our strategy and create shareholder value. We appreciate the continued support of Deerfield and OrbiMed as we continue to expand our global portfolio of marketed vaccines. »

The loan interest rate remains unchanged. The interest-only period has been extended to the third quarter of 2024, and the loan will now mature in the first quarter of 2027.

In January 2021, Valneva announced an amendment1 under this credit facility, originally signed in February 20202.

On Deerfield
Deerfield is an investment management firm committed to advancing healthcare through investment, insight and philanthropy.

On OrbiMed
OrbiMed is a leading healthcare investment firm with $15 billion in assets under management. OrbiMed invests globally in the healthcare sector, from start-ups to large multinationals, using a range of private equity funds, private equity funds and royalty/credit funds. OrbiMed has offices in New York, San Francisco, Shanghai, Hong Kong, Mumbai and Herzliya. OrbiMed seeks to be a capital provider of choice, providing tailored financing solutions and global team resources and support to help build world-class healthcare businesses.

About Valneva SE

Valneva is a vaccines company focused on the development and commercialization of prophylactic vaccines for infectious diseases with significant unmet medical needs. The Company takes a highly specialized and targeted approach to vaccine development, then applies its extensive knowledge of vaccine science to develop prophylactic vaccines against these diseases. Valneva has leveraged its expertise and capabilities both to successfully commercialize two vaccines and to rapidly advance a wide range of candidate vaccines in and through the clinic, including candidates against Lyme disease, chikungunya and COVID-19.

Media and investor contacts
Laetitia Bachelot-Fontaine
Vice President of Global Communications and European Investor Relations
M +33 (0)6 4516 7099
[email protected]

Joshua Drumm, Ph.D.
Vice President of Global Investor Relations
M +001 917 815 4520
[email protected]

Forward-looking statements
This press release contains certain forward-looking statements with respect to Valneva’s business, including with respect to the progress, timing, design, reading of data, expected results and completion of clinical trials of VLA2001 and with respect to the eventual regulatory approval of VLA2001. Furthermore, even if the actual results or developments of Valneva are consistent with the forward-looking statements contained in this press release, such results or developments of Valneva may not be indicative of future results. In some instances, you can identify forward-looking statements by words such as “could”, “should”, “may”, “expect”, “anticipate”, “believe”, “intend”, “estimates”, “aims”, “targets” or similar words. These forward-looking statements are based on Valneva’s current expectations as of the date of this press release and are subject to a number of known risks and uncertainties and unknowns and other factors that may cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Valneva’s expectations could be affected by, among other things, uncertainties related to the development and manufacturing of vaccines, unexpected clinical trial results, unexpected regulatory actions or delays, general competition, currency fluctuations, impa ct of the global market and The credit crunch in Europe, the ability to obtain or maintain patent or other proprietary intellectual property protection and the impact of the COVID-19 pandemic. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements made in this presentation will actually materialize. Valneva is providing the information in this press release as of the date hereof and disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

1 Valneva Announces Amendment to Deerfield and OrbiMed Debt Facility Terms
2 Valneva announces new $85 million financing agreement with leading US healthcare funds Deerfield and OrbiMed

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