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Valneva agrees to terminate UK supply agreement for COVID-19 vaccine 

By Brian Buntz | June 15, 2022

ValnevaFrench vaccine company Valneva SE (Nasdaq:VALN; Euronext Paris:VLA) has reached a settlement agreement with regulators in the United Kingdom related to the termination of a supply agreement for its COVID-19 vaccine candidate.

The company is attempting to salvage a COVID-19 vaccine deal with the EU after regulators announced plans to terminate an Advance Purchase Agreement (APA) related to the vaccine candidate.

VALN shares tumbled 6.87% to $15.73 in afternoon trading.

The company has developed the only whole virus, inactivated, adjuvanted vaccine candidate.

Demand for COVID-19 vaccines has faltered in recent months. The majority of the population in many European countries has been fully vaccinated.

On September 13, 2021, Valneva received a termination notice from the UK government.

The agreement between the parties included a provision giving the UK government the discretionary right to terminate for convenience.

The recent settlement includes provisions related to the termination of the supply agreement and ongoing clinical studies of the VLA2001 vaccine in the UK.

The fate of the VLA2001 vaccine remains unclear given the current state of affairs.

Valneva is also developing vaccines for other conditions, including Lyme disease and chikungunya.


Filed Under: clinical trials, Infectious Disease
Tagged With: COVID-19 vaccine, Valneva, VLA2001
 

About The Author

Brian Buntz

As the pharma and biotech editor at WTWH Media, Brian has almost two decades of experience in B2B media, with a focus on healthcare and technology. While he has long maintained a keen interest in AI, more recently Brian has made making data analysis a central focus, and is exploring tools ranging from NLP and clustering to predictive analytics.

Throughout his 18-year tenure, Brian has covered an array of life science topics, including clinical trials, medical devices, and drug discovery and development. Prior to WTWH, he held the title of content director at Informa, where he focused on topics such as connected devices, cybersecurity, AI and Industry 4.0. A dedicated decade at UBM saw Brian providing in-depth coverage of the medical device sector. Engage with Brian on LinkedIn or drop him an email at bbuntz@wtwhmedia.com.

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