The Intellectual Property team guided Pharmakon Advisors, LP on the IP aspects of a debt facility agreement with Valneva SE, a specialty vaccine company, for up to $500 million USD in non-dilutive financing with funds managed by Pharmakon. An initial tranche of $215 million will be used to repay in full Valneva’s existing debt facility, inclusive of associated fees and expenses. The remaining up to $285 million may be drawn in the future for potential business development subject to mutual agreement between the parties. The agreement was executed on October 6, 2025, and the initial tranche is expected to be funded in the coming weeks.
Pharmakon Advisors, LP is a leading investor in non-dilutive debt for the life sciences industry and is the investment manager of the BioPharma Credit funds. Established in 2009, funds managed by Pharmakon Advisors, LP have committed up to $11 billion across 66 investments.
The Goodwin deal team was led by Carl Morales, Kevin Grumberg, Maria Smith, Przemyslaw "Peter" McEwan, and Kimberly Veliz.
For more information on the deal, please read the press release.