VALNEVA SE: directors' dealings · France · AMF

About VALNEVA SE

Valneva SE is a European specialty biopharmaceutical company focused on prophylactic vaccines designed to prevent infectious diseases with unmet medical needs. The group is listed on Euronext Paris and Nasdaq under the ticker VALN and was created in 2013 through the merger of two biotechnology companies: Austria-based Intercell and France-based Vivalis. Its operational headquarters are in Saint-Herblain, France, and the company maintains an international footprint across Europe and North America, with activities in France, Austria, the United Kingdom, Sweden, Canada and the United States. Over time, Valneva has established itself as a niche player with expertise in travel and specialty vaccines. The company’s core business spans vaccine research, development, manufacturing and commercialization. Its commercial portfolio includes three proprietary vaccines: IXIARO, for Japanese encephalitis; DUKORAL, for cholera and, in some countries, ETEC-related diarrhea; and IXCHIQ, the world’s first approved chikungunya vaccine. Valneva also commercializes certain third-party vaccines through its established distribution infrastructure, supporting its recurring revenue base. The company emphasizes a highly specialized strategy, targeting first-in-class, best-in-class, or only-in-class solutions in disease areas with meaningful regulatory and scientific barriers. From a competitive standpoint, Valneva occupies a distinctive position. It is not a broad-based vaccine giant, but rather a focused specialist in travel vaccines and emerging infectious diseases. IXIARO has a long commercial track record, including a key U.S. supply relationship with the Department of Defense, which renewed a contract worth at least $32.8 million in January 2025. IXCHIQ is now a strategic growth asset: approved in the U.S. in late 2023, in Canada in 2024, and in the European Union in 2024 with an adolescent label expansion in 2025, it is positioned as a response to an important global unmet need. In parallel, the company continues to advance VLA15, its Lyme disease vaccine candidate developed with Pfizer and presented as the only active vaccine program in advanced clinical development for Lyme disease. Recent highlights include the regulatory and geographic expansion of IXCHIQ and ongoing progress in the Lyme franchise. Valneva regularly reports results and guidance, underscoring a strategy centered on growing commercial vaccine sales to fund its pipeline. The company nonetheless remains a high-R&D-intensity biotech, with value creation heavily dependent on the clinical, regulatory and commercial performance of a small number of key assets.