Valneva Offers Shares to Fund Lyme Vaccine
Valneva, a specialty vaccine company, announced its intent to issue and sell shares of the company through a news release “Global Offering of American Depositary Shares and Ordinary Shares” released on September 28, 2022. The company plans to offer approximately $40 million of its ordinary shares to specific types of investors in the global market.
Net proceeds from the “Global Offering” are intended to fund the co-development and marketing of its vaccine candidate against Lyme disease (VLA15) as well as its vaccine candidate against the chikungunya virus (VLA1553). In addition, monies would be put towards development of two of its other preclinical vaccine candidates, working capital, and general corporate expenses.
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