Pfizer collaborates with Valneva to progress Phase II Vaccine Candidate for Lyme disease.
Lyme disease is a systemic infection caused by Borrelia bacteria. It has symptoms like fatigue, fever, headache, mild stiff neck, arthralgia or myalgia and can lead to more serious complications affecting the joints, the heart, or the nervous system.
Pfizer will pay upfront of $130 million to collaborate in the development and commercialization of the candidate vaccine, VLA15 which is currently in its Phase II development stage. Pfizer also added that they will pay an additional $35 million in its development milestones and $143 million in early commercialization milestones.
Under the terms and agreement between two parties, Pfizer will be taking over the last stages of development of the vaccine and will be in control of its commercialization whilst Valneva will be paid tiered royalties starting from 19%.
Valneva is a specialty vaccine company focused on developing vaccines for the prevention of diseases with major unmet needs.
Both companies are looking forward to meeting the unmet medical need for vaccination against Lyme disease that is steadily increasing as the disease’s footprint widens.
Pfizer Vaccine’s Global President, Nanette Cocero said that they look forward to working closely with Valneva in advancing the VLA15 program to potentially bring a new solution to patients with Lyme diseases.
Valneva’s Chief Executive Officer, Thomas Lingelbach added that they are excited for this opportunity to be able to hasten the development and commercialization of a vaccine that can potentially address a major unmet medical need.