Valneva and Dynavax ink deal for COVID-19 vaccine; UK govt contract
Shares of French specialty vaccine company Valneva (Euronext: VLA) leapt 11.8% to 5.50 euros by midday today, after it announced a partnership with USA-based Dynavax Technologies (Nasdaq: DVAX) for the supply of Dynavax' CpG 1018 adjuvant for use in Valneva's SARS-CoV-2 vaccine candidate, VLA2001. Dynavax’ shares rocketed 16.6% to $5.84 in pre-market trading.
Valneva separately announced today an agreement with the UK government to provide up to 190 million doses of VLA2001 over a five-year period. Dynavax will supply CpG 1018 to produce up to 100 million doses of vaccine in 2021. Valneva has the option to purchase up to an additional 90 million doses through 2025.
Deal potentially worth 1.37 billion euros
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