VALNEVA : and BliNK Therapeutics confirm Launch and Funding of BliNK Biomedical

Valneva and BliNK Therapeutics confirm Launch and Funding of BliNK Biomedical

Lyon (France), January 20^th, 2015 - European biotechnology company Valneva SE ("Valneva") and UK company BliNK Therapeutics Ltd ("BliNK Therapeutics") announced today the closing of the transaction creating BliNK Biomedical SAS, a private company specialized in the discovery of innovative monoclonal antibodies as announced on December 11^th, 2014. All conditions precedent have been met, including the absence of material adverse events and the consent of certain third parties.

The new company, which is headquartered in Lyon, France, will develop first-in-class antibody therapeutics against novel targets based on its unique antibody discovery platform which results from the combination of two already validated platforms, BliNK Therapeutics' IVV and Valneva's VIVA|Screen^®. BliNK Biomedical SAS has already secured its first round of financing.

Thomas Lingelbach, President and Chief Executive Officer and Franck Grimaud, President and Chief Business Officer of Valneva commented, "To be successful, a company needs to have a critical mass, focus and the financial means and prospects to expand, and this is exactly what BliNK Biomedical SAS is about. We are extremely pleased to share with Blink Therapeutics and its shareholders a common vision to create this ambitious innovative antibody discovery biotech company."

Irina Staatz, Chairman of BliNK Biomedical SAS, added, "We believe that this best in class platform, validated by several industrial partnerships, together with the preferred access to novel targets based on the company's excellent network with academic excellence will create high value for patients and investors through the discovery and development of unique antibody therapeutics with a distinct medical benefit."

The new company is owned by Valneva, Kurma Biofund I (founding investor of BliNK Therapeutics), funds managed by Idinvest Partners, Cancer Research Technology (CRT) and BliNK Therapeutics' founders.

About BliNK Biomedical SAS

BliNK Biomedical SAS will leverage its B cell technology to develop proprietary human antibodies targeting immuno-oncology and oncology up to clinical stages. Anti-infective diseases will be addressed through on-going and new partnerships with big pharmaceutical companies.

BliNK Biomedical SAS' powerful B cell technology will enable the isolation of antibody producing cells for difficult targets for which other platforms have failed to deliver. This cutting-edge technology will be based on the combination of two validated platforms, BliNK Therapeutics' IVV and Valneva's VIVA|Screen^®, which have already both succeeded in delivering high quality human antibodies. With the combined highly efficient process, an unprecedented capability to screen and identify extremely rare antibody-secreting cells will be achieved. This unique capability represents a major competitive advantage compared to other technologies. BliNK Therapeutics' technology has been developed by Facundo Batista, Head of the Lymphocyte Interaction Laboratory at the London Research Institute, Cancer Research UK. The technology provides a new way of activating the immune system's B cells to produce antibodies in response to a specific antigen, even when the 'parent' B cells are rare or when the antigens are difficult for B cells to detect. Valneva's antibody technology was successfully applied for a series of infectious and non-infectious targets and allowed the discovery of a large number of highly potent native human antibodies. In 2010, Valneva signed a strategic collaborative & commercial agreement with Sanofi Pasteur, the vaccine division of Sanofi, to discover and develop fully human monoclonal antibodies against some selected infectious diseases. Valneva recently announced the signing of a new research collaboration and license agreement with a leading global animal health care company to discover antibodies from animal B-lymphocytes.

About Valneva SE

Formed in 2013 through the merger of Intercell AG and Vivalis SA, Valneva is a biotechnology company developing, manufacturing and commercializing vaccines. Valneva's mission is to protect people from infectious diseases with innovative vaccines. The Company seeks financial returns through focused R&D investments in promising product candidates and growing financial contributions from commercial products, striving towards financial self-sustainability. Valneva's portfolio includes a commercial vaccine for the prevention of Japanese encephalitis (IXIARO^®) and proprietary vaccines in development against Pseudomonas aeruginosa, Clostridium difficile and Lyme Borreliosis. A variety of partnerships with leading pharmaceutical companies complement the company's value proposition and include vaccines being developed using Valneva's innovative and validated technology platforms (EB66^® vaccine production cell line, IC31^® adjuvant). Valneva is headquartered in Lyon, France, listed on Euronext-Paris and the Vienna stock exchange and operates out of France, Austria and Scotland with approximately 270 employees. More information is available at www.valneva.com.

Contact

Teresa Pinzolits

Communications@valneva.com

M +43 (0) 676 845 567 357

Stéphanie Le Bihan

T +33 (0)228 07 37 15

Forward-Looking Statements

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