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Valneva Announces Mutual Agreement with GSK to End Strategic Alliance Agreement

Saint Herblain (France), June 20, 2019 – Valneva SE (“Valneva” or “the Company”), a biotech company developing and commercializing vaccines for infectious diseases with major unmet needs, today announces that GSK and Valneva have decided, by mutual agreement, to end the Strategic Alliance Agreement (“SAA”), originally agreed between Novartis and Intercell (predecessor companies of GSK and Valneva, respectively). Valneva will pay €9 million to GSK immediately and up to a further €7 million in milestones relating to marketing approvals of its Lyme vaccine. As a result, Valneva is now fully in control of its main R&D assets including its Lyme vaccine candidate VLA15.

 

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