VALN - Valneva in pact with IDT Biologika for production of COVID-19 vaccine candidate

Valneva SE (VALN +8.2%) ADRs are trading sharply higher for the second straight session on the announcement of a partnership with IDT Biologika to produce the company’s inactivated COVID-19 vaccine candidate VLA2001. Per the terms of the deal, IDT Biologika is expected to manufacture the VLA2001’s drug substance at its production sites in Dessau-Roßlau, Germany, in addition to a Valneva’s facility in Livingston, Scotland. The agreement follows an Advance Purchase Agreement signed by Valneva (NASDAQ:VALN) with the European Commission to deliver up to 60M doses of VLA2001 over a two-year period. The vaccine supplies to the region are expected to begin in April 2022 depending on its regulatory authorization from the European Medicines Agency (EMA), which is anticipated to begin a rolling review for the candidate shortly. VLA2001, based on the CpG 1018 adjuvant from Dynavax Technologies (NASDAQ:DVAX), has led to superior results against COVID-19, according to Phase 3 data announced

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Valneva in pact with IDT Biologika for production of COVID-19 vaccine candidate