Merger between Vivalis and Intercell forms biotech Valneva

Valneva SE announced the completion of a merger on Wednesday between Vivalis and Intercell that will create a new European biotechnology company that focuses on antibodies and vaccines.

The Lyon, France-based Valneva operates across the entire biopharmaceutical value chain by developing discovery and development capabilities, innovative technology platforms, commercialization expertise and state-of-the-art manufacturing. The newly-formed company generates revenue from multiple sources, including its marketed products and current and new commercial partnerships.

"Today is a major milestone for our new company," Thomas Lingelbach, the president and CEO of Valneva, and Franck Grimaud, the president and chief business officer of Valneva, said. "Valneva combines the strengths and capabilities of Vivalis and Intercell in antibody discovery and vaccine development and commercialization. We have a clear growth strategy to build a sustainable business by growing revenues through marketed products as well as through existing and future partnerships, and to invest into vaccines development and antibody discovery. We believe this value proposition will generate substantial rewards for our shareholders."

Valneva has multiple product candidates including a tuberculosis vaccine in Phase II trials, a pseudomonas vaccine in Phase II/III trials and a pandemic influenza vaccine in Phase III trials.

Valneva also has a portfolio of technology platforms, including the IC31 novel adjuvant, VIVAIScreen antibody discovery platform and EB66 cell line for human and veterinary product development.