Valneva Sells Priority Review Voucher From The U.S. Food And Drug Administration For $103M
Portfolio Pulse from Benzinga Newsdesk
Valneva has sold a Priority Review Voucher (PRV) awarded by the U.S. FDA for $103M, following the approval of IXCHIQ®, the first licensed vaccine for chikungunya virus. The proceeds will fund R&D, including Lyme disease vaccine development, further IXCHIQ® trials, and clinical pipeline expansion.
February 05, 2024 | 6:06 am
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Valneva sold its FDA Priority Review Voucher for $103M, planning to invest in R&D for Lyme disease vaccine, further IXCHIQ® trials, and pipeline expansion.
The sale of the PRV for $103M is a significant financial boost for Valneva, allowing the company to invest in critical R&D projects. This move is likely to be viewed positively by investors as it demonstrates the company's ability to monetize its achievements (FDA approval of IXCHIQ®) and invest in future growth areas such as the Lyme disease vaccine and further development of IXCHIQ®. The focus on expanding the clinical pipeline also suggests a strategic approach to addressing unmet medical needs, potentially opening new revenue streams in the future.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100