Valneva Scotland, the subsidiary of Valneva SE, a specialty vaccine company, has been awarded research and development funding of up to £20 million by Scottish Enterprise.
The investment from Scotland’s national economic development agency will be comprised of two grants, which build on the agency’s longstanding engagement with Valneva and will benefit the company’s manufacturing site in Livingston. The grants are expected to be received over the next three years, commencing March 2022.
The first grant of up to £12,500,000 will support research and development related to the manufacture of VLA2001, Valneva’s inactivated, whole virus COVID-19 vaccine candidate. The second grant of up to £7,500,000 will support research and development connected to Valneva’s manufacturing processes for other vaccines.
Valneva’s research and development portfolio includes VLA1553, the company’s single-shot vaccine candidate against the mosquito-borne viral infection chikungunya, which it also intends to manufacture in Livingston. Valneva reported positive topline Phase 3 results in 2021 for both VLA2001 and VLA1553.
Thomas Lingelbach, Chief Executive Officer of Valneva, said: “This investment bolsters Valneva’s longstanding relationship with Scottish Enterprise as well as our position at the forefront of life sciences and vaccine development in Scotland.
“From the only inactivated, whole virus COVID-19 vaccine candidate in clinical development in Europe to the most clinically advanced vaccine candidate against chikungunya in the world, Scottish Enterprise’s investment will support progress across Valneva’s research and development portfolio – as well as jobs and growth in Scotland. We are grateful to Scottish Enterprise, and to the Scottish Government, for their continuing support.”
Adrian Gillespie, Chief Executive of Scottish Enterprise, said: “Valneva’s decision to develop and manufacture its COVID-19 vaccine here in Scotland is extremely welcome. It is a huge vote of confidence in our life sciences sector and its highly skilled workforce, with one of the largest and most advanced vaccine manufacturing sites in the world now firmly anchored in Scotland and set to export its life-saving vaccines across the world. We look forward to supporting Valneva’s continued growth in Scotland, and to help it realise its international growth ambitions.”
The grants signed with Scottish Enterprise are tied to the safeguarding and creation of jobs at Valneva’s Livingston site and, before receiving funds, Valneva must provide a legal opinion and a parent guarantee.
