VALNEVA : Leading Healthcare Investor MVM Life Science Partners Acquires 7.5% Shareholding In Valneva

Lyon, France, Dec. 01, 2016 (GLOBE NEWSWIRE) -- Leading Healthcare Investor MVM Life Science Partners Acquires 7.5% Shareholding in Valneva
  • Funds managed by MVM Life Science Partners LLP ("MVM") to invest a total of €15.2 million in a simultaneous private placement of 2.9 million newly issued shares and purchase of a further tranche of existing shares
  • Issue price of €2.60 per share corresponds to the volume weighted average trading price of the previous three trading sessions
  • Dr. Bali Muralidhar to join Valneva's Supervisory Board as MVM representative

Lyon (France), December 1 , 2016 - Valneva SE ("Valneva" or "the Company"), afullyintegrated, commercial stage biotech company focused on developing innovative lifesaving vaccines, today announced that MVM Life Science Partners LLP ('MVM'), a specialist healthcare investor based in London and Boston with more than $700 million under management, has acquired a 7.5% shareholding in the Company. MVM will be entitled to an investor director representative, to be appointed to Valneva's Supervisory Board by the next annual shareholders meeting.

Thomas Lingelbach, President and CEO, and Franck Grimaud, Deputy CEO of Valneva, commented, "MVM's investment in Valneva is a strong endorsement of our growth strategy and an important step in our initiative to broaden our shareholder base. We are delighted to welcome such a renowned healthcare investor on board, who can help us in continuing to develop Valneva by bringing expertise, networks and financial resources."

Dr. Bali Muralidhar, a partner at MVM, added, "Valneva is uniquely positioned in having deep domain expertise in vaccine discovery, development and commercialisation within one independent company. We look forward to supporting the growth of the current commercial vaccine franchise both organically and inorganically. The company has a rich pipeline of vaccine products in development and we are particularly excited to be part of a company that has the opportunity to bring a novel Lyme vaccine to unserved patients in the US and EU."

The investment by MVM is being made by means of a combined private placement and share purchase. The transaction is expected to close on December 14, 2016. The issuance of 2,884,615 new primary shares will result in proceeds of €7.5 million for Valneva and will bring the Company's total number of ordinary shares to 77,582,714. Together with the purchase of a further tranche of shares from undisclosed shareholders of the Company, MVM will own 7.5% of Valneva's ordinary shares at the close of the combined transaction.