Valneva sells chikungunya vaccine priority review voucher for $103M

French vaccine maker Valneva (NASDAQ:VALN) said on Monday it sold the priority review voucher (PRV) it received from the U.S. Food and Drug Administration (FDA) for its chikungunya vaccine for $103M.

Proceeds from the sale will support the company’s R&D projects, including the co-development of its Phase 3 vaccine candidate against Lyme disease, additional clinical trials for the chikungunya vaccine and the expansion of its clinical pipeline.

“This non-dilutive capital provides an important source of additional funding to advance the continued development of our clinical pipeline,” CEO Thomas Lingelbach said in a news release.

The company was awarded a tropical disease PRV in November 2023 after FDA’s approval of its chikungunya vaccine, Ixchiq.

Ixchiq, a single-dose, live-attenuated vaccine, became the first preventive shot to be approved in the U.S. for the mosquito-borne disease.