The French Covid-19 vaccine maker, backed by the UK government, has applied for a U.S. initial public offer to satisfy investors’ appetite for epidemiological biotechnology.
The Paris-listed company, with a market cap of more than 1 billion, has filed for an increase of বা 100 million in American Depository shares. Vaxitech, Astraford Spinout, owner of the platform behind the AstraZeneca vaccine, published This is filing.
Valneva There is a € 1.4 billion contract to supply 19 Covid vaccines in the UK for dosage production at a government-funded Scottish factory. The UK has already agreed to buy the 100m shot and has the option to buy more than 90 million by 2025. Valneva has already received about 100 100 million from the government.
However, in the filing, Valeneva warned that any restrictions on the import or export of vaccines outside the EU could lead to “substantial” risks to the operation. The vaccine was supposed to be made in the UK but was packaged in vials in the EU.
There has been a shortage of vaccines in the EU Tensions between the UK and the EU Over imports of shots and raw materials for current approved jobs from Oxford / AstraZeneca and Bioentech / Pfizer over
Valeniva arrives after announcing the filing Positive early stage test results There are plans for Covid-19 to start studying later this week, later this month and to apply for UK approval in the fall.
A first- and second-stage study found that short-lived participants spread more antibodies than received the highest dose, typically seen in rescued Covid-19 patients, producing more than 90 percent antibodies. Jab also induced T-cell responses, another key component of the immune system.
A completely inactivated virus, this vaccine can be used as a booster to vaccinate or to deal with variants of the virus, using more traditional therapeutic methods than currently allowed shots.
Valneva says that although it will be approved much later, it could gain a competitive advantage against its rivals.
“We believe that, if approved, our vaccine as an inactivated virus vaccine may provide advantages in terms of protection, cost, ease of production and distribution compared to the currently approved vaccine and may be adapted to protect against virus mutations,” it said in the filing.
However, it added that it does not yet have the right to use the virus strain in commercial vaccines. It is in the process of negotiating a commercial agreement with the World Health Organization and the Italian National Institute for Infectious Diseases.
The virus transmitted by the Valneva mosquito is creating vaccines for Lyme disease and Chikungunya. Total revenue in 2020 was 110 million, which is less than € 126 million in 2012, because its travel vaccines were restricted to travel during the epidemic.
It made a loss of .7 0.711 per share per year, it had to write down € 7.4 million, partly due to the limited lifespan of the products. Valeneva also had to renegotiate the debt financing agreement last year because of the risk of not complying with the minimum revenue agreement.