Valneva Secures £20M From Scottish Enterprise For Vaccine Development

Valneva SE VALN has been awarded research and development funding of up to £20 million by Scottish Enterprise.

• The investment from Scotland's national economic development agency will comprise two grants and benefit the company's manufacturing site in Livingston. 
• The company expects to receive grants over the next three years, commencing March 2022.
• The first grant of up to £12.5 million will support research and development related to the manufacture of VLA2001, Valneva's inactivated, whole virus COVID-19 vaccine candidate. 
• Related: Valneva Advances Booster Phase Of Its Cov-Compare COVID-19 Vaccine Trial.
• The second grant of up to £7.5 million will support research and development connected to Valneva's manufacturing processes for other vaccines.
• Valneva's research and development portfolio include VLA1553, a single-shot vaccine candidate against the mosquito-borne viral infection chikungunya, which it intends to manufacture in Livingston. 
• Related: Valneva Kickstarts Phase 3 Trial Of Chikungunya Vaccine Candidate In Adolescents.
• Valneva reported 2021 revenues soaring 216% to €348.1 million.
• Price Action: VALN shares closed at $33.61 on Friday.