Hogan Lovells advises Valneva on Pfizer's minority stake in its capital

Paris, 20 June 2022 – Hogan Lovells has advised Valneva on the signing of a share subscription agreement by Pfizer in connection with the amendment of the terms of the collaboration agreement for the Lyme disease vaccine candidate VLA15.

Valneva is a company specialising in the development and commercialisation of prophylactic vaccines against infectious diseases of high unmet medical need. The Group has leveraged its expertise and infrastructure to successfully commercialise two vaccines and to rapidly advance a broad range of vaccine candidates in clinical development, including those against Lyme disease, chikungunya virus and Covid-19.

As a result of the agreement, Pfizer, which is investing the equivalent of $95 million, will own 8.1% of Valneva's share capital at a subscription price of €9.49 per share.

The Hogan Lovells team consisted of Jean-Marc Franceschi (partner) and Claudia Reix (associate), both in corporate


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