EANS-News: Valneva SE Announces a New EB66® Cell Line Research License Agreement with Boehringer Ingelheim

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Licensing Agreements

Lyon (France) (euro adhoc) - July 16, 2013 - Valneva SE (Valneva)
announced today that it has signed an EB66® cell line research
license agreement with Boehringer Ingelheim for the development of
animal health vaccines. This non-exclusive agreement also includes a
commercial option for future marketed products.

Boehringer Ingelheim, currently one of Valneva's commercial
licensees, is expanding its research programs to investigate
additional viruses in EB66® cells.

Thomas Lingelbach, President and Chief Executive Officer and Franck
Grimaud, President and Chief Business Officer of Valneva, commented,
"Boehringer Ingelheim has been a licensee to the EB66® cell line
since 2010, where their current work with the EB66® platform has
resulted in their request for additional rights to this innovative
technology for the production of animal health vaccines. We are
pleased to continue our relationship with Boehringer Ingelheim and
look forward to future results achieved with EB66® cells in the
company's development of veterinary vaccine products."

Terms of the agreement were not disclosed.

About Valneva SE Valneva is a new European biotech company focused on
vaccine development and antibody discovery. It was created in 2013
through the merger between Intercell AG and Vivalis SA. Valneva's
mission is to excel in both antibody discovery, and vaccine
development and commercialization, either through in-house programs
or in collaboration with industrial partners using innovative
technologies developed by the company. Valneva generates diversified
revenue from both its marketed product, a vaccine for the prevention
of Japanese encephalitis (IXIARO®),commercial partnerships around a
portfolio of product candidates (in-house and partnered), and
licensed technology platforms (EB66®cell line, VIVA|ScreenTM and
IC31®)developed by Valneva that are becoming widely adopted by the
biopharmaceutical industry worldwide. Headquarted in Lyon, France,
the company employs approximately 350 people in France, Austria,
Scotland, the United States, and Japan. The internationally
experienced management team has a proven track-record across
research, development, manufacturing and commercialization

EB66® Cell Line Valneva's EB66® cell line is a highly efficient
platform for vaccine production. It is derived from duck embryonic
stem cells and today represents the only alternative to chicken eggs
for large scale manufacturing of human and veterinary vaccines. To
date, the company has more than 30 research and commercial agreements
with the world's largest pharmaceutical companies to license its
EB66® technology . A research license generally lasts between 12 and
24 months and generates payments of less than EUR 200,000. If
successful it can lead to a commercial license with upfront payments,
clinical milestones and royalties. The first veterinary vaccine using
the EB66® technology received market approval in 2012 and a New Drug
application (NDA) for human pandemic Influenza is currently under
review in Japan.

www.valneva.com

Contacts:

Valneva
Laetitia Bachelot-Fontaine
Communications@valneva.com
T +33 228 07 37 10

NewCap
Pierre Laurent
Valneva@newcap.fr
T +33 (0)1 44 71 94 93

Forward-Looking Statements This press release contains certain
forward-looking statements relating to the business of Valneva,
including with respect to the progress, timing and completion of
research, development and clinical trials for product candidates, the
ability to manufacture, market, commercialize and achieve market
acceptance for product candidates, the ability to protect
intellectual property and operate the business without infringing on
the intellectual property rights of others, estimates for future
performance and estimates regarding anticipated operating losses,
future revenues, capital requirements and needs for additional
financing. In addition, even if the actual results or development of
Valneva are consistent with the forward-looking statements contained
in this press release, those results or developments of Valneva may
not be indicative of their in the future. In some cases, you can
identify forward-looking statements by words such as "could,"
"should," "may," "expects," "anticipates," "believes," "intends,"
"estimates," "aims," "targets," or similar words. These
forward-looking statements are based largely on the current
expectations of Valneva as of the date of this press release and are
subject to a number of known and unknown risks and uncertainties and
other factors that may cause actual results, performance or
achievements to be materially different from any future results,
performance or achievement expressed or implied by these
forward-looking statements. In particular, the expectations of
Valneva could be affected by, among other things, uncertainties
involved in the development and manufacture of vaccines, unexpected
clinical trial results, unexpected regulatory actions or delays,
competition in general, currency fluctuations, the impact of the
global and European credit crisis, and the ability to obtain or
maintain patent or other proprietary intellectual property
protection. In light of these risks and uncertainties, there can be
no assurance that the forward-looking statements made during this
presentation will in fact be realized. Valneva is providing the
information in these materials as of this press release, and disclaim
any intention or obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.

Further inquiry note:
Valneva SE
Laetitia Bachelot-Fontaine
Communications@valneva.com
T +33 228 07 37 10

end of announcement euro adhoc
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company: Valneva SE
Gerland Plaza Techsud, 70, rue Saint Jean de Dieu
F-69007 Lyon
phone: +33 4 78 76 61 01
mail: communications@valneva.com
WWW: www.valneva.com
sector: Biotechnology
ISIN: FR0004056851
indexes: ATX Prime
stockmarkets: regulated dealing: Euronext Paris, regulated dealing/prime
standard: Wien
language: English