The deal gives Valneva a cash injection that it will be able to use to advance Lyme disease candidate VLA15 towards the market, but the revised licensing terms means that the French biotech will shoulder more of the financial cost of the development programme.
Valneva is on the hook for 40% of development costs, up from 30%, but also stands to receive milestone payments of up to $100 million based on sales performance which were not included in the original agreement.
