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.