Valneva receives 12.5 million pound COVID-19 vaccine manufacturing grant in Scotland

The Scottish unit of French vaccine maker Valneva (VLS.PA) has received a grant of up to 20 million pounds ($27 million) to partly fund the research and development (R&D) of manufacturing its COVID-19 vaccine VLA2001, the company said on Monday. Valneva will receive the funds from Scotland's national economic development agencyScottish Enterprise, which it has been in talks with since December. The funding will come in two tranches. The first grant of up to 12.5 million pounds will support the company's efforts on the VLA2001, its inactivated, whole virus COVID-19 vaccine candidate. The second round of up to 7.5 million pounds will be used for Valneva's other vaccines.