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 vaccine biotech by combining the growth of our commercial business with the development of prophylactic vaccine candidates for diseases such as Lyme and chikungunya.
Products: Growing product sales revenues to € 200 million and beyond
Valneva operates a successful commercial business, which continues to grow. Valneva aims to increase its product sales from € 103.5 million in 2018 to over €200 million by 2022. Where possible our ambition is to add products to our commercial portfolio, leveraging our commercial and industrial infrastructure.
R&D: Investing in innovative R&D programs to meet unmet medical needs
Valneva’s R&D team is committed to developing vaccine candidates in areas of growing medical need and providing innovative solutions for the benefit of both people and society. Our current R&D pipeline includes the most advanced clinical-stage vaccine to prevent Lyme disease, a tick-transmitted illness that is spreading widely in North America and Europe.
Additionally, Valneva has vaccine programs against the mosquito-borne viral diseases chikungunya and Zika, neither of which can be effectively treated today. In order to advance our two leading programs, Lyme disease (VLA15) and chikungunya (VLA1553), towards the next value inflection points, we expect to increase R&D investments significantly in the coming years.
Our approach is to fully develop products, alone, or via co-development and profit share, or through partnership agreements that will generate revenues in the form of milestone payments as well as royalties on future product sales.
Financials: Using proceeds from commercial business to invest in promising product candidates
One of Valneva’s key strategic objectives is to be largely financially self-sustainable in its operations. Valneva generated € 13.1 million of earnings before interest, tax,
depreciation and amortization (EBITDA) in 2018, marking the third consecutive positive annual EBITDA result.
While we aim to achieve positive EBITDA for our business, Valneva is focused
on generating long-term shareholder value and will therefore continue to invest
in advancing its key R&D programs. This may result in a period of negative
EBITDA in the mid-term, as R&D programs undergo costly late stage development.