By Sam Boughedda
Investing.com — Valneva SE ADR (NASDAQ:VALN) shares are up around 13.5% Monday after it announced a manufacturing deal with IDT Biologika to produce its inactivated Covid-19 vaccine candidate VLA2001.
The deal follows last week's announcement that Valneva has signed a deal with the European Commission for up to 60 million doses over two years.
The agreement will see IDT Biologika produce VLA2001's drug substance at its Biosafety Level 3 facilities in Dessau-Roßlau, Germany, in addition to Valneva's manufacturing site in Livingston, Scotland.
Valneva reported positive phase 3 results for the vaccine in October, and deliveries in Europe are expected to begin in April 2022, once approved by the European Medicines Agency (EMA), which is scheduled to start a rolling review of VLA2001 shortly.
Thomas Lingelbach, CEO of Valneva, said the company is “extremely pleased to extend this partnership to supply VLA2001."
"This collaboration will help ensure our inactivated vaccine is available for rapid deployment as we continue to believe that our differentiated vaccine candidate can make an important contribution to the global fight against the COVID-19 pandemic,” he added.