Date: 2013-06-07
Type of information: Company acquisition
Acquired company: Valneva's clinical manufacturing operations in Nantes (France)
Acquiring company: Biological E (India)
Amount: undisclosed
Terms: * On June 7, 2013, Valneva has announced the signing of a binding term sheet to sell its Clinical Manufacturing Operations (CMO) in Nantes to Biological E, a leading Indian biopharmaceutical company. The sale of this unit, which is dedicated to the manufacturing of clinical trial materials, is part of Valneva´s strategy to realize cost synergies of € 5 to 6 million annually following the merger of Intercell AG and Vivalis SA to create Valneva.The divestment of the CMO facility is expected to contribute up to €3 million cost savings to the annual merger-synergies. In addition, Valneva will receive an undisclosed purchase price, exceeding the current book value of the facility.
Details: Valneva and Biological E jave established a first partnership in 2005 for the development and commercialization of a novel Japanese Encephalitis vaccine for endemic regions, based on Valneva´s JEV technology. The vaccine, which was successfully developed under this partnership, is being commercialized in India under the trade-name JEEV® and further territory expansions in the JEendemic markets are planned. The CMO facility in Nantes will not be related to the JEV vaccine program. Valneva and Biological E are also in discussions to potentially extend their strategic partnership into new vaccine development programs based on Valneva´s EB66® manufacturing platform.
Related: manufacturing
production
