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Valneva Successfully Raises €60 Million through Private Placement

Graphique de l'évolution du cours de l'action VALNEVA (EPA:VLA).

Valneva SE, a specialty vaccine company, announced the successful pricing of its private placement, raising a total of €61.18 million. The funds will support current commercial and R&D activities, providing greater flexibility for future investments, including the Shigella vaccine program.

The proceeds will be used mainly for the development of Valneva's clinical programs, such as the chikungunya vaccine’s Phase 3 pediatric and Phase 4 trials, as well as Phase 2 programs for Shigella and Zika vaccines. Additionally, the funds will help in the commercialization of IXCHIQ®, Valneva’s chikungunya vaccine.

Valneva aims to achieve operational profitability from its Lyme disease program by 2026, pending positive trial results. The company’s debt as of June 2024 stands at $200 million, with repayments scheduled between 2026 and 2028.

The new shares, expected to start trading on Euronext Paris on September 17, 2024, represent a 16.5% increase in Valneva's share capital prior to the placement, diluting existing shareholders by about 14.2%.

R. H.

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