EANS-News: Intercell AG / Vivalis SA shareholders approved the proposed merger of equals to create Valneva SE

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Company Information

Wien (euro adhoc) - Nantes (France), Vienna (Austria), March 7, 2013
- Intercell AG (VSE: ICLL) and Vivalis SA (NYSE Euronext: VLS) today
announced that the Extraordinary General Meeting of both companies
approved the proposed merger of equals between Intercell AG and
Vivalis SA to create Valneva SE.

In today's Extraordinary Shareholders' Meeting of Vivalis held in
Nantes, France, all resolutions were approved by its shareholders. A
majority of 99.1% of the represented share capital voted in favor of
the merger to create Valneva SE, a biotech leader in vaccines and
antibodies. A total of approximately 70% of the outstanding share
capital of Vivalis SA was represented in the shareholders meeting.

As previously announced, Intercell's shareholder approved the
proposed merger with Vivalis SA with a majority of 97.4% of the
represented share capital.

Following the approvals of the both shareholders the merger is now
only subject to completion of certain administrative steps and is
expected to close in May 2013. Subject to the approval of the French
market authorities, Valneva SE will launch a EUR 40 million capital
increase shortly after the completion of the Merger.

Thomas Lingelbach, future President and Chief Executive Officer of
Valneva and Franck Grimaud, future President and Chief Business
Officer commented: "We are excited about the broad approval of the
merger by our shareholders and are now heading towards closing in May
2013. Valneva will be a European biotech leader in vaccines and
antibodies with complementing talents and capabilities, a broad
portfolio of product candidates, diversified revenues and enhanced
financial strength to fund its future growth."

Further inquiry note:
Intercell AG
Nina Waibel
Corporate Communications
Tel. +43 1 20620-1222
communications@intercell.com

end of announcement euro adhoc
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company: Intercell AG
Campus Vienna Biocenter 3
A-1030 Wien
phone: +43 1 20620-0
FAX: +43 1 20620-800
mail: investors@intercell.com
WWW: www.intercell.com
sector: Biotechnology
ISIN: AT0000612601
indexes: ATX Prime
stockmarkets: official market: Wien
language: English