Valneva's strategy stems from its vision to contribute to a world in which no one dies or suffers from a vaccine-preventable disease.
We aim to become the leading fully integrated, commercial stage vaccine company by complementing organic growth with opportunistic M&A while investing into the development of promising vaccine candidates.
Product Sales Growth
Valneva aims to increase its product sales from € 92.6 million in 2017 to approximately € 150 million by 2022 - representing ongoing double-digit year on year growth. Where possible, to augment organic product sales growth and to leverage our infrastructure, our ambition is to add products to our commercial portfolio. Our ambition is therefore to achieve overall product sales of over € 200 million by 2022.
Research and Development
Valneva's Research and Development (R&D) organization is committed to deliver vaccine candidates in areas of growing medical need and present innovative solutions to the benefit of individuals and society.
Our current R&D pipeline is mainly focused on vector-transmitted diseases and the Company is concentrating its R&D expertise and resources, to a large extent, on the development of a much-needed vaccine against Lyme disease, the most common and one of the fastest growing vector-borne illnesses in the Northern Hemisphere for which there is no other clinical vaccine candidate in development worldwide.
In order to execute on our R&D pipeline progression through future value inflection points, we expect to increase R&D investments significantly in the coming years.
Our R&D approach is to develop products through approval and commercial launch, alone, in co-development, or through partnership agreements that will generate revenues in the form of milestone payments as well as royalties on future product sales.
One of Valneva's key strategic objectives is to be financially self-sustainable in its operations. Valneva generated € 10.8 million positive EBITDA in 2017, marking the second consecutive year of positive operating results.
Going forward, we aim to maintain positive EBITDA for our business whilst continuing to invest in promising product candidates.