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Decision due to European Commission decreasing its order
Valneva SE, a specialty vaccine company, and IDT Biologika, a biologics contract development and manufacturing organization (CDMO), have agreed to end their agreement, following the delivery of inactivated COVID-19 bulk vaccine to Valneva, and considering the current order levels and existing inventories.
Per the commercial manufacturing services agreement signed back in November 2021, IDT Biologika produced VLA2001 bulk vaccine at its Biosafety Level 3 facilities in Germany, and Valneva bought the batches that were manufactured so far by the CDMO. Delivery of those doses has begun.
As a result of the European Commission significantly cutting down its order this past July, Valneva has suspended manufacturing of the vaccine and will pay IDT up to $36.1 million in cash and $4.49 million in the form of specified equipment purchased by Valneva. Despite the development, the company is continuing talks with other governments, and is looking to send eight to 10 million doses of remaining inventory into international markets in the next six months to a year.