Hogan Lovells has advised Valneva on its partnership with the UK Government for its inactivated adjuvanted COVID-19 vaccine, VLA2001.
As part of the agreement, should the vaccine be successful, Valneva will supply 60 million doses of the vaccine to the UK Government in the second half of 2021, at a cost of around €470 million. The UK Government also has options over a further 130 million doses, to be supplied between 2022 and 2025, with additional associated revenue for Valneva which could amount to almost €900 million. UK Government is also investing up-front in the scale up and development of the vaccine, with the investment being recouped against the vaccine supply under the partnership. Valneva’s COVID-19 vaccine is expected to have a two dose regimen, and combines Valneva’s vaccine candidate with the Dynavax CpG 1018 adjuvant.
The announcement of the formal partnership follows July’s announcement of Valneva’s initial intent to participate in the UK Government’s COVID-19 vaccine response, on which Hogan Lovells also advised.
The international team supporting Valneva on the project was led by Hogan Lovells London partners Peter Watts (Picture) and Jane Summerfield, supported by Senior Associate Caitlin Weeks and Associate Nagham Al-Turaihi. Specialist input was provided by Paris corporate partner and long-time Valneva advisor, Jean-Marc Franceschi and by an IP team of Katie McConnell (partner, London) and Anishiya Abrol (counsel, Washington DC).
A Clifford Chance team led by partner Stephen Reese acted for the UK Government in this transaction.
Involved fees earner: Stephen Reese – Clifford Chance; Anishiya Abrol – Hogan Lovells; Jean-Marc Franceschi – Hogan Lovells; Katie McConnell – Hogan Lovells; Jane Summerfield – Hogan Lovells; Peter Watts – Hogan Lovells; Caitlin Weeks – Hogan Lovells;