Valneva enters R&D collaboration with GSK for the EB66 cell line

French biotech firm Valneva (Euronext: VLA) has signed a new R&D collaboration agreement with UK pharma major GlaxoSmithKline (LSE: GSK) for the development of EB66-based influenza vaccines.

Under the agreement, Valneva, a pure play vaccines company, will conduct an R&D program on behalf of GSK to develop and improve upstream processes which will serve for the manufacturing of Influenza vaccines based on Valneva’s EB66 cell line. Financial terms of the collaboration were not disclosed.

Market reactions to the deal saw Valneva’s shares rise 2.2% to 3.25 euros in Paris, but up 4.7% to 3.28 euros on the Vienna Stock Exchange where it is also traded. However, by 13.15 GNT the stock was up just 0.9% at 3.21 euros in Paris.