Amid Covid-19 hunt, Pfizer adds Lyme disease vaccine in $308M deal with Valneva
In the midst of their $500 million program to build a Covid-19 vaccine with BioNTech, Pfizer has announced a sizable deal to commercialize a vaccine for a far different disease.
Pfizer and Valneva have agreed to an up-to $308 million deal on the French biotech’s Lyme disease vaccine. The deal includes a $130 million upfront payment for Valneva, whose candidate is now in Phase II. On top of that, there are milestones and ultimately a 19% royalty on sales. Valneva will still be in charge of 30% of the commercialization costs.
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