Valneva SE announced on October 6, 2025, that it has entered into a debt facility for up to $500 million in non-dilutive financing with funds managed by Pharmakon Advisors, LP. An initial tranche of $215 million will be used to repay in full the company's existing debt facility with Deerfield Management Company and OrbiMed, including associated fees and expenses.
This new facility significantly enhances Valneva’s financial flexibility by eliminating the need for amortization payments in 2026, resulting in substantial cost savings ahead of anticipated revenues from the Lyme disease vaccine candidate, VLA15. The remaining up to $285 million may be drawn in the future for potential business development, subject to mutual agreement.
Following the FDA's decision to suspend the product license for IXCHIQ® in the U.S., Valneva revised its 2025 financial guidance. The company now projects product sales between €150 million and €160 million, and total revenues between €160 million and €170 million. Despite this, the Phase 3 clinical trial for the Lyme disease vaccine candidate remains on track, with outcomes expected in the first half of 2026.
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