UK invests $25 million in Scottish Covid-19 vaccine site

LONDON (BLOOMBERG) – The UK has agreed to invest in a Scottish factory that will make French biotech firm Valneva’s Covid-19 vaccine, in a move to secure domestic production of the shot.

The British government and Valneva will each invest 14 million pounds ($25.16 million) in the existing plant, according to a person with knowledge of the situation who asked not to be identified because the value hasn’t been publicly disclosed.

Valneva's shot will enter clinical studies by year-end.
Valneva’s shot will enter clinical studies by year-end.PHOTO: AFP

The deal, announced in a statement Wednesday (Aug 5), comes two weeks after the UK secured 60 million doses of the potential vaccine from the French company, and a further 40 million if the product proves safe and effective.

Britain has reached deals for at least 250 million doses from four different vaccine developers in recent weeks, giving the country one of the highest number of Covid-19 vaccine doses per capita globally.

Valneva’s shot, which uses manufacturing technology developed for its jab for Japanese encephalitis, will enter clinical studies by year-end.

The company also plans to boost investment in its manufacturing facility in Solna, Sweden.

More than 100 people are employed at the Livingston site, with another 75 jobs available when production starts.

UK Business Secretary Alok Sharma is due to visit the plant on Wednesday.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s