A biotechnology company which had its contract to make Covid vaccines cancelled by the UK Government still received £358m of taxpayers’ money.
French firm Valneva was supposed to manufacture more than 100 million vaccines at its site in Livingston, but the contract was axed by ministers in 2021.
The government said it pulled out of the deal at the time because the company had breached the terms of the agreement, but this was denied by Valneva.
A new financial statement shows Valneva received hundreds of millions of pounds in payments, despite the deal being cancelled.
A form filed with the United States Securities and Exchange Commission states it received advances totalling £358m as part of its agreement with the UK Government.
The company received around £40.5m under a settlement agreement, another £66.5m to cover capital expenditure, and the remainder related to prepayments for vaccine doses.
Valneva is now also reportedly considering selling the Almeida plant that was specially built at its Livingston site to manufacture the Covid vaccines.
It was reported this week by the BBC that the company has hired a commercial property firm to explore options for the mothballed 75,000 sq ft facility.
The UK Government and Valneva have been approached for comment.
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