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Valneva ahead of deal with Scottish Enterprise


23.12.2021

Valneva is in advanced discussions with Scottish Enterprise for a multi-million pound grant that will enable the completion of its strategic manufacturing facility in Livingston, Scotland. According to Valneva, after the termination of the supply contract with the UK government for Valneva’s inactivated COVID-19 vaccine candidate VLA2001, plans for the site were paused. Valneva is said to be continuing to seek amicable agreement with the UK government to terminate the supply agreement and conduct the ongoing clinical trial. The company continues to reserve all rights in the event that no amicable agreement can be reached.

Scottish Enterprise is expected to provide a series of grants of £ 10 to 20 million to enable Valneva to start production at the facility. Talks between the company and the Scottish government also include a possible future delivery of VLA2001 to Scotland, subject to regulatory approval, Valneva said. Valneva has also offered to provide up to 25,000 basic doses of VLA2001 free of charge to the National Health Service and frontline workers in Scotland, subject to approval. The grant is subject to contract signing and final due diligence, and is expected to include job creation commitments in Livingston, Valneva said.

David Lawrence, Acting Chief Financial Officer, said: “We already have a certain amount of vaccine available to ship once it has been approved. The grant is very welcome and, subject to the signature of the contract, will ensure that Livingston becomes a strategic location for the future of vaccine manufacturing and that we can successfully complete the work we began with the UK government. “

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Ivan McKee, Minister for Economic Affairs, Trade, Tourism and Enterprise for the Scottish Government said: “Valneva is a valuable contributor to our life sciences sector and the Livingston facility is an important asset where vaccines for major infectious diseases are being developed and thereby qualified Jobs are being created. Minister and Scottish Enterprise are in advanced discussions with the company to agree on a package of support for the company’s activities in Scotland. “

Hannah Bardell, Member of Parliament for Livingston added, “I am delighted that the Scottish Government and Scottish Enterprise have listened to my constituency colleagues and myself in agreeing to invest in Valneva’s vaccine manufacturing facility in Livingston. These funds will enable Valneva to complete its expansion, increase the necessary manufacturing capacity and secure skilled jobs. It has been a pleasure to work with all parties on this agreement and I can only hope that the UK Government will recognize the trust that we have in Scotland in Valneva. “

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Valneva starts on the Nasdaq, photo source: screenshot from Nasdaq.com, (© broadcaster)

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Christine Petzwinkler

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