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French Biotech Valneva Could Be The First To Offer Inactivated COVID-19 Vaccines In Europe

April 30, 2021
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French Biotech Valneva Could Be The First To Offer Inactivated COVID-19 Vaccines In Europe

French biotech firm Valneva SE is developing a vaccine that could be more variant-proof against mutations of the coronavirus disease 2019, Bloomberg reported.

  • Valneva is so far the only manufacturer in Europe’s clinical trials that uses an inactivated version to stimulate an immune response against COVID-19.
  • The shots are likely to be used as a winter booster for older adults in the United Kingdom, which has already made a deal for as much as 190 million doses.
  • The deal is estimated at as much as 1.4 billion euros or $1.7 billion, which is over 10 times what the company generated in revenues in 2020.
  • U.K. Vaccine Taskforce former head Kate Bingham said a whole virus vaccine could broaden immune response, compared with the rest of the vaccines that focus on COVID-19’s spike protein.
  • Valneva is set to go through with a $100 million listing on Nasdaq this year, offering about 7.1 million shares.
  • Proceeds from the listing will finance the development of its COVID-19 vaccine and other products in its portfolio.  
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