Valneva (VLA) TD Cowen 46th Annual Health Care Conference summary

Company overview and strategy

• Operates as a fully integrated specialty vaccine company, developing, manufacturing, and commercializing prophylactic vaccines for infectious diseases with unmet medical needs.

• Commercializes three proprietary travel vaccines in key markets, maintaining a cash-generating business.

• Strategic focus post-Lyme vaccine is to maximize R&D upside and drive long-term shareholder value through innovation and expansion into new disease areas.

• Plans to augment growth both organically and through strategic partnerships or M&A, aiming to become a leading vaccine biotech.

Commercial portfolio and market approach

• Flagship product IXIARO is the only licensed Japanese encephalitis vaccine, with the US Department of Defense as the largest customer.

• DUKORAL, a cholera and ETEC vaccine, is well established in the travel vaccine community and was acquired two years ago.

• Recently licensed the first chikungunya vaccine in several countries, focusing on endemic regions and outbreak preparedness.

• Own in-house sales teams drive double-digit year-over-year growth in proprietary products, with third-party product sales being phased out by 2026.

R&D pipeline and innovation

• Lyme disease vaccine candidate, partnered with Pfizer, is the only clinically advanced program globally and represents a transformational opportunity.

• Chikungunya vaccine is undergoing post-marketing effectiveness studies, with pilot campaigns in Brazil to gather real-world data.

• Shigella vaccine program is in phase 2a trials for both children and adults, with early efficacy data guiding future development.

• Preclinical pipeline includes programs targeting EBV and enteric diseases, with further development contingent on Lyme vaccine success.