Valneva & Pfizer Take Next Steps in Progressing Lyme Disease Vaccine Candidate VLA15
Valneva and Pfizer have announced that the two companies have entered into an Equity Subscription Agreement and have updated their Collaboration and License Agreement terms for the Lyme disease vaccine candidate, VLA15. As previously announced, Pfizer plans to begin Phase 3 studies of VLA15 in Q3 2022.
Based on the Equity Subscription Agreement, Pfizer will invest $95 million in Valneva to expand the Lyme vaccine partnership. Valneva, which is a specialty vaccine company, plans to use the proceeds from Pfizer’s equity investment for its Phase 3 development study.
Based on the successful completion of the scheduled VLA15 Phase 3 study, Pfizer may propose a Biologics License Application (BLA) to the U.S. Food and Drug Administration as soon as 2025.