Pfizer invests $95m in French Lyme disease research partner Valneva

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DPA

US pharmaceutical company Pfizer is investing $95 million into French specialty vaccine company Valneva as part of a joint effort by the two to create a Lyme disease vaccine, the companies announced on Monday. The investment is equivalent to an 8.1% stake in the French company. The phase 3 study of the vaccine, known as VLA15, is set to start in the third quarter of this year. As part of the agreement, Pfizer will now fund 40% of the shared research, up from the previously agreed 30%. Valneva is now set to get royalties from Pfizer ranging from 14% to 22%.

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