Pfizer nabs $95M stake in Valneva as Lyme disease vaccine approaches pivotal study
Pfizer is investing some money in its Lyme disease partner biotech as the pair gears up for a Phase III study.
The Big Pharma chipped in $95 million in equity for Valneva, good enough for an 8.1% stake in the French vaccine maker. Monday’s deal comes after the two companies initially agreed to develop the candidate in April 2020 and a few months after the program read out Phase II pediatric results.
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