Valneva SE

Report Publication Announcement • Jan 25, 2011

2011 FINANCIAL CALENDAR

Nantes, Lyon (France) – 25 January 2011 − VIVALIS (NYSE Euronext: VLS), a biopharmaceutical company, today announces its schedule for the publication of financial information for 2011.

Event	Date * **
2010 annual revenues	Wednesday, 27 January 2011
2010 annual results	Monday, 28 March 2011 (before opening)
Presentation of 2010 annual results	Monday, 28 March 2011, 5:30 p.m.
2011 first-quarter revenues	Wednesday, 4 May 2011
Annual General Meeting	Tuesday, 7 June 2011
2011 second-quarter revenues	Thursday, 21 July 2011
2011 first-half results	Tuesday, 30 August 2011
2011 third-quarter revenues	Thursday, 20 October 2011

* Subject to modification.

** Press releases are published after market closes

About VIVALIS (www.vivalis.com)

VIVALIS (Euronext code: VLS) is a biopharmaceutical company that provides innovative cell-based solutions to the pharmaceutical industry for the manufacture of vaccines and proteins, and develops drugs for the prevention and treatment of unmet medical needs. VIVALIS' expertise and intellectual property are exploited in three main areas:

1. EB66® Cell Line:

VIVALIS offers research and commercial licenses for its EB66® cell line, derived from duck stem cells, to pharmaceutical and biotechnology companies for the production of therapeutic and prophylactic viral vaccines, virosomes, VLPs and recombinant proteins, especially monoclonal antibodies with enhanced cytotoxic activity. VIVALIS receives upfront payment, clinical stage milestone payments and royalties on its licensees' net sales.

2. Humalex® platform

VIVALIS proposes customized solutions for the discovery, development and production of fully Human monoclonal antibodies. VIVALIS receives upfront payment, clinical stage milestone payments and royalties on its licensees' net sales.

3. 3D-Screen platform

VIVALIS performs discovery and early stage development of small molecule compounds identified with its proprietary 3D-Screen platform. The 3D-Screen platform is designed to identify molecules that alter the three-dimensional structure of a target protein. With 3D-Screen, VIVALIS is building a portfolio of proprietary products for the treatment of hepatitis-C virus infection and other indications.

Based in Nantes (France), VIVALIS was founded in 1999 by the Grimaud group (ca. 1,500 employees), a worldwide leader in animal genetic selection. VIVALIS has established more than 30 partnerships and licenses with world leaders in this sector, including Sanofi Pasteur, GlaxoSmithKline, Merck, CSL, Kaketsuken, Merial, Intervet, SAFC Biosciences. VIVALIS is a member of the French ATLANTIC BIOTHERAPIES and LYON BIOPOLE bio-clusters.

VIVALIS

Compartiment C d'Euronext Paris de NYSE Euronext Reuters : VLS.PA – Bloomberg : VLS FP Membre des indices SBF 250, Small Cap 90 et Next Biotech de NYSE Euronext

This document contains forward-looking statements and comments on the company's objectives and strategies. No guarantee can be given as to any of the events anticipated by the forward-looking statements, which are subject to inherent risks, including the risk factors described in the company's document de référence, changes in economic conditions, the financial markets or the markets in which the company operates.

Contacts

VIVALIS

Franck Grimaud, CEO Email: investors@vivalis.com

NewCap

Financial communications agency Steve Grobet / Pierre Laurent Tel.: +33 (0) 1 44 71 94 91 Email: vivalis@newcap.fr