France’s biotech industry stands at the forefront of global healthcare advancements. Home to a vibrant ecosystem of pioneering biotech companies, France blends a rich history of medical research with cutting-edge technology, fostering developments that are pivotal in tackling some of the most pressing health challenges of our time. It is one of the top-performing countries in the industry among the OECD members. While the vibrant innovation ecosystem well-established in Paris concentrates most of the companies, the rest of France’s territory – including Lyon – also has a lot to offer to the biotech industry. Here are 19 French biotech companies based you should know about.
Table of contents
Abivax, founded in 2013 and headquartered in Paris, has made notable advancements in its clinical development, particularly with its leading drug candidate, obefazimod. This drug is in the critical phase of phase 3 clinical trials for treating ulcerative colitis (UC), having demonstrated encouraging results in earlier phases of clinical trials.
Beyond UC, Abivax is exploring the application of obefazimod for Crohn’s Disease. A phase 2a trial for this condition is slated to begin in early 2024, with expectations to obtain top-line induction results by the second half of 2025. The potential of obefazimod as a combination therapy for UC and other chronic inflammatory conditions is also under consideration, reflecting the broad therapeutic scope of the drug.
Recently Abivax completed its initial public offering (IPO) on the Nasdaq stock market raising more than $200 million. This milestone event not only marks the French biotech company’s expansion into the U.S. market but also reflects the growing investor confidence in its innovative approach to treating inflammatory diseases, especially with its flagship drug, obefazimod. The completion of this IPO represents a crucial step for Abivax, providing it with the necessary capital to advance its clinical programs and expand its international footprint.
Amolyt Pharma, a clinical-stage biotech company based in the Auvergne-Rhône-Alpes region in France, specializes in developing therapeutic peptides for rare endocrine and related diseases. In May 2023, Amolyt Pharma announced the initiation of a phase 3 clinical trial for eneboparatide, a long-acting parathyroid hormone 1 (PTH1) receptor agonist. This trial, known as the Calypso trial, is significant as it is expected to be the largest for hypoparathyroidism, with topline data anticipated by the end of 2024. The trial will assess the efficacy of eneboparatide in controlling serum calcium, eliminating the need for standard oral supplements, and normalizing urinary calcium, which is crucial for patients with hypercalciuria.
In October 2023, the French biotech company presented crucial data at the American Society for Bone and Mineral Research (ASBMR) Annual Meeting. This data focused on the prevalence of bone disease in patients with hypoparathyroidism and the favorable effects of their lead compound, eneboparatide, on bone health. The findings underscore the potential of eneboparatide, not just in managing hypoparathyroidism but also in positively impacting bone disease, a common complication of the condition.
Amolyt Pharma’s development portfolio is quite robust, including AZP-3813, a peptide growth hormone receptor antagonist being developed for the treatment of acromegaly. The company’s approach and focus on rare endocrine disorders have positioned it as a notable entity in the biotech industry.
Additionally, Amolyt Pharma secured significant funding with a $138 million series C equity financing in January 2023. This funding round was led by Sofinnova Partners and co-led by Intermediate Capital Group (ICG). The proceeds from this financing are earmarked for advancing their pipeline of therapeutics, including the clinical development of eneboparatide for hypoparathyroidism and advancing AZP-3813 into clinical trials for acromegaly.
Antabio is a clinical-stage biotech company based in Toulouse, France. It is developing novel treatments for severe drug-resistant bacterial infections. In December 2023, Antabio raised $27 million in a series B financing round (€25 million). This investment is pivotal for the company as it continues to develop solutions in response to the global health crisis of antimicrobial resistance (AMR). AMR, which caused nearly 5 million deaths in 2019, is predicted to exceed deaths caused by cancer by 2050 if not addressed.
The company’s leading program, MEM-ANT3310, is focused on treating hospital-acquired infections such as nosocomial pneumonia caused by carbapenem-resistant Acinetobacter baumannii and carbapenem-resistant Enterobacterales. These pathogens are recognized by the Center for Disease Control and Prevention (CDC) and the World Health Organization (WHO) as critical priority pathogens due to their severe impact on patients. Alongside MEM-ANT3310, Antabio is also developing ANT3273, an innovative inhalation treatment targeting Pseudomonas aeruginosa infections, particularly in patients with chronic pulmonary diseases. Additionally, ANT2681, a potent metallo beta-lactamase inhibitor, is being developed to be combined with meropenem for treating MBL-producing carbapenem-resistant Enterobacterales.
With the grounding support from investors, Antabio is well-positioned to advance its pipeline and contribute meaningfully to the fight against AMR, a critical challenge in global health.
France-based biotech company Coave Therapeutics is advancing the field of gene therapy for rare ocular and central nervous system (CNS) diseases. The company’s focus is on developing gene therapies, with a significant emphasis on treatments for retinitis pigmentosa, a type of inherited retinal dystrophy.
One of Coave Therapeutics’ key developments is the ongoing phase I/II clinical trial of CTx-PDE6b, aimed at treating patients with retinitis pigmentosa caused by bi-allelic mutations in the PDE6b gene. The trial has shown positive results, particularly in a subgroup of patients who received a higher dose and demonstrated less advanced disease. These patients exhibited improvements across several clinical endpoints, including visual acuity and retinal sensitivity. The treatment was well-tolerated, and the data provide strong support for the continued clinical development of CTx-PDE6b, including the expansion of the trial to younger patients and the preparation of a registrational trial.
Coave Therapeutics is backed by significant funding, including a substantial series B expansion round of $39 million. This funding is intended to support the development of CTx-PDE6b and other preclinical programs in rare CNS and ocular diseases.
Corteria Pharmaceuticals was founded in 2021, and is dedicated to developing transformative therapies for various forms of heart failure, as well as sarcopenia and obesity. The company’s approach involves identifying and targeting specific phases of heart failure exacerbation and acute decompensation, coupled with a strategy for patient stratification to identify subgroups most likely to benefit from their treatments. This focus is particularly important as heart failure represents a significant and growing global health issue, affecting over 60 million patients worldwide.
They have raised substantial funding to support their endeavors, including a $70.7 million (€65 million) series A financing round co-led by OrbiMed, a U.S. investment firm, and Jeito Capital, a leading investment firm based in Europe. This funding, announced in September 2023, will enable Corteria to advance the clinical development of its drug candidates for cardiovascular indications. Notably, all investors from the seed round participated in this series A financing, reflecting strong ongoing support for the company’s vision and strategy.
The France-based biotech company’s research pipeline comprises innovative and first-in-class therapies. These include a once-daily subcutaneous CRF2 agonist for the treatment of worsening heart failure, a once-monthly subcutaneous CRF2 agonist for right heart failure, and an arginine vasopressin (AVP) neutralizing monoclonal antibody for acute heart failure with hyponatremia. The lead asset for treating worsening heart failure is expected to enter clinical trials in early 2024.
DiogenX is in the preclinical stage and specializes in the field of diabetes treatment. In May 2023, the company announced the completion of a $29.9 million (€27.5 million) series A financing round. This round of funding was led by Boehringer Ingelheim Venture Fund and Roche Venture Fund, with participation from new investors such as Eli Lilly and Omnes, as well as existing investors like JDRF T1D Fund and AdBio partners.
The primary focus of DiogenX is on regenerating insulin-producing beta cells, a promising approach for treating diabetes. The company’s lead program involves a recombinant protein designed to modulate the Wnt/β-catenin signaling pathway, which plays a crucial role in the regeneration of pancreatic insulin-producing beta cells. The approach has shown promising results in preclinical models, including efficacy in both prevention and reversal settings of type 1 diabetes, and a significant increase in functional insulin-producing human beta cells.
The successful closure of this financing round and the collaboration with leading biopharma and diabetes organizations will support DiogenX’s efforts to advance its lead program into clinical development for patients with type 1 diabetes. The company aims to develop a therapy that can potentially eliminate the need for exogenous insulin in some patients by harnessing the patient’s own remaining endogenous beta cells to increase insulin production and modify the course of the disease.
Enterome is at the forefront of developing innovative immunomodulatory drugs for the treatment of cancer and immune diseases. Their bacterial mimicry drug discovery platform has been instrumental in the development of their drug candidates.
One of their main projects is EO2401, a novel off-the-shelf peptide-based immunotherapy. This therapy combines microbial-derived peptides, known as OncoMimics, which mimic cytotoxic T cell epitopes on tumor-associated antigens. EO2401 is currently in phase 1/2 clinical trials for the treatment of glioblastoma and adrenal tumors, in combination with nivolumab and optionally bevacizumab. The therapy has shown to be well-tolerated and has generated strong systemic immune responses.
Another significant candidate from French biotech company is EO2463, also an innovative peptide-based immunotherapy. EO2463 targets indolent non-Hodgkin lymphoma by combining OncoMimics peptides of B lymphocyte-specific lineage markers. This therapy is under evaluation in a phase 1/2 clinical trial as a monotherapy and in combination with standard-of-care treatments.
Enterome’s pipeline also includes EO2040, aimed at treating patients with circulating tumor DNA-defined minimal residual disease in advanced colorectal cancer. Furthermore, EO4010, targeting metastatic colorectal cancer, is being evaluated in a phase 1/2 trial in combination with nivolumab.
The company’s scientific approach uses bacterial proteins from the gut microbiome to modulate the immune system. This approach could potentially transform the treatment landscape for various cancer and immune diseases.
In addition to these developments, Enterome plans to raise significant funding, estimated at $108 million, to support new phase II cancer trials. This funding will further enable the advancement of their OncoMimics immunotherapy candidates in clinical studies.
Enyo Pharma, based in Lyon in France, is a biotech company working to develop treatments for diseases with impaired kidney function. In early 2024, the company reached a milestone with a $42 million (€39 million) series C financing, alongside FDA clearance to initiate a phase 2 clinical study of Vonafexor for Alport Syndrome, a rare kidney disease.
Vonafexor, the company’s lead compound, is a highly selective FXR agonist, which demonstrates both fibrolytic and anti-inflammatory properties. This small molecule, taken orally once a day, is primarily distributed to the kidney and liver. Its unique action mechanism has shown potential in improving kidney function (eGFR), inflammation, and fibrosis in liver and visceral fat, as demonstrated in the phase 2a LIVIFY study in patients with non-alcoholic steatohepatitis (NASH).
The funding obtained by Enyo Pharma will not only support the phase 2 Alpestria-1 study but also further research and development through the first half of 2026. This includes profiling Vonafexor in other kidney diseases such as autosomal dominant polycystic kidney disease (ADPKD). In addition to Vonafexor, Enyo Pharma is developing EYP651, another FXR agonist, with similar properties.
The France-based biotech company specializes in the field of genetic medicines, particularly in the area of diseases driven by the expression of bacterial genes from the microbiome. In December 2023, the company successfully raised $30 million in a series B funding round, led by Sanofi Ventures. This funding round, supported by new investor Bpifrance and existing backers like Khosla Ventures and Seventure Partners, marks a pivotal moment for Eligo as it transitions towards becoming a clinical-stage biotech.
The company’s flagship program, EB005, focuses on targeting moderate to severe acne vulgaris, a condition affecting approximately 3% of the global population. This investment is crucial for advancing Eligo’s pre-Investigational New Drug (IND) and IND activities, aiming for early human data readouts in a phase 1b/2a clinical trial. Moreover, the funding will facilitate Eligo’s expansion into other chronic diseases, including oncology.
Eligo Bioscience’s approach is particularly innovative due to its focus on the in-vivo delivery of genetic cargoes to the microbiome. This method transcends traditional gene therapy and gene editing techniques by expanding the range of addressable genetic targets. Their method of precise genetic modification within the human microbiome holds promise for radically changing the treatment landscape for numerous chronic and life-threatening diseases.
Genfit is a late-stage biotech company based in the north of France that has been focusing on improving the lives of patients with rare and life-threatening liver diseases. In 2024, the company shifted its research and development efforts from chronic liver diseases to acute liver diseases, primarily acute on chronic liver failure (ACLF), where there is a significant unmet medical need and no approved therapies. Genfit’s pipeline for ACLF includes several assets, each targeting different aspects of the disease:
· VS-01: This is a liposomal-based technology designed to remove ammonia and other toxins from the blood. The phase 2 trial for VS-01 began with an interim data readout expected in mid-2024.
· NTZ: This anti-inflammatory and anti-bacterial agent is being reformulated for a phase 2 trial in 2024. It aims to reduce systemic inflammation and impede the release of pathogen-associated molecular patterns (PAMPs) and bacterial translocation.
· SRT-015: An ASK1 inhibitor that targets cell death, inflammation, and fibrosis in the liver. The first-in-human study is targeted for the second half of 2024.
· CLM-022: An NLRP3 inflammasome inhibitor aimed at reducing systemic inflammation and cell death, with preclinical proof of concept expected to initiate in 2024.
· VS-02-HE: A small molecule targeting hyperammonemia, with IND, enabling studies starting in 2024, and completion expected in 2025.
Additionally, Genfit is developing GNS561 for cholangiocarcinoma (CCA) and is planning to release phase 1b interim biomarker data in the first half of 2024. For urea cycle disorders (UCDs) and organic acidemias (OA), Genfit is working on completing IND-enabling nonclinical studies for VS-01 by 2024.
A significant development for Genfit has been the progress with Elafibranor, their drug candidate for primary biliary cholangitis (PBC). The FDA granted Priority Review for the New Drug Application (NDA) for Elafibranor, and the European Medicine Agency (EMA) validated the Marketing Authorization Application (MAA).
Imcheck Therapeutics is looking to become a prominent player in the field of cancer immunotherapy. Its innovative approach consists of activating gamma-delta T cells. In recent developments, Imcheck presented updated and positive data from the phase I/IIa EVICTION-2 trial of ICT01, its leading product, in combination with low-dose IL-2 at the Society for Immunotherapy of Cancer (SITC) 2023. This trial marks a significant advancement in understanding the potential of ICT01 in enhancing immune responses against various cancers.
Further cementing its position as a promising innovator, Imcheck was selected as a laureate of the new French Tech 2030 program, underscoring the company’s contribution to the technological advancement and economic growth within France’s biotech sector. This recognition reflects the company’s potential to develop disruptive immunotherapies that could transform cancer treatment.
In a major financial milestone, the company closed a $103 million financing round, demonstrating strong investor confidence in its vision and strategy. This substantial funding is set to advance the clinical program of ICT01, the first-in-human gamma-delta T cell-activating antibody, and to accelerate the development of its immunotherapeutic pipeline.
The success of Imcheck Therapeutics lies in its novel approach to immunotherapy, which harnesses the largely untapped potential of gamma-delta T cells. Unlike conventional therapies that primarily focus on alpha-beta T cells, Imcheck’s ICT01 targets a unique aspect of the immune system, offering a new avenue for cancer treatment. This innovative approach positions Imcheck Therapeutics as a potential decisive player in the field, with the potential to bring groundbreaking treatments to patients suffering from various forms of cancer.
Innate’s focus is on harnessing the innate immune system to develop therapeutic antibodies for cancer patients. Innate Pharma has emerged as a key innovator in the field of immunotherapy, particularly in the development of natural killer (NK) cell engagers and other novel treatments for cancer. The company’s recent licensing of its fourth NK cell engager to Sanofi marks a significant recognition of its efforts to harness the power of the immune system in the fight against cancer.
At the American Society of Hematology (ASH) 2023, Innate Pharma shared promising efficacy and safety results from the phase 1/2 trials of SAR443579/IPH6101, an NK cell engager developed in partnership with Sanofi. These results highlight the therapy’s potential in targeting specific cancer cells, demonstrating the company’s commitment to pioneering new pathways in cancer treatment.
The French biotech company’s pipeline includes several promising drug candidates. Among them is lacutamab, a first-in-class anti-KIR3DL2 humanized cytotoxicity-inducing antibody, currently in clinical trials for the treatment of cutaneous T-cell lymphoma (CTCL) and peripheral T cell lymphoma (PTCL). Lacutamab has shown potential in treating rare cutaneous lymphomas of T lymphocytes, particularly in advanced stages of the disease.
Innate Pharma presented positive results from the TELLOMAK phase 2 study of lacutamab in patients with Sézary syndrome at ASH 2023. The success of this trial represents a significant advancement in the treatment of this rare and aggressive form of cancer, showcasing Innate Pharma’s role in addressing unmet medical needs in oncology. The FDA had put a hold on the lacutamab clinical program but has recently lifted it.
Inventiva Pharma is particularly focusing on treatments for NASH (non-alcoholic steatohepatitis), mucopolysaccharidoses (MPS), and other diseases with significant unmet medical needs. The company’s progress is highlighted by several developments.
One of the most notable advancements is their lead product candidate, lanifibranor, which is currently in a pivotal phase III clinical trial, NATiV3, for the treatment of adult patients with NASH. Lanifibranor, a pan-PPAR agonist, has shown promising results in terms of safety and efficacy, as evidenced by positive data from more than 500 patients.
Furthermore, Inventiva has recently reported positive results from an investigator-initiated phase II clinical trial evaluating lanifibranor in patients with type 2 diabetes (T2D) and non-alcoholic fatty liver disease (NAFLD). The study demonstrated that lanifibranor effectively reduces intrahepatic triglycerides and contributes to resolving NAFLD in patients with T2D.
The French biotech company also secured financial backing, drawing down the second tranche of €25 million under an existing Finance Contract with the European Investment Bank.
This French biotech company is making significant strides in the field of cancer treatment through its pioneering physics-based approaches. In 2023, the company entered into a global licensing, co-development, and commercialization agreement with Janssen Pharmaceutica NV for its novel radioenhancer NBTXR3. This partnership is set to expand the worldwide potential of NBTXR3, reflecting the promising prospects of this technology.
NBTXR3 is a radioenhancer designed to improve the efficacy of radiotherapy in various cancer types. The financial aspects of the agreement with Janssen include an upfront payment and an equity tranche, which have extended Nanobiotix’s cash runway into the first quarter of 2025. The deal is subject to customary closing conditions and regulatory clearances, including clearance by U.S. antitrust authorities under the Hart-Scott-Rodino Act.
OSE Immunotherapeutics, a biotech company dedicated to developing assets in immuno-oncology and immuno-inflammation, has showcased a well-balanced and innovative clinical pipeline with several significant advancements.
Tedopi, an off-the-shelf cancer vaccine designed to activate tumor-specific T-cells has shown positive results in a phase 3 trial for non-small cell lung cancer patients who had secondary resistance after checkpoint inhibitor failure. The success of Tedopi in this trial and its ongoing phase 2 trials in other solid tumors highlight its potential as an effective cancer therapy.
Another notable product in their pipeline is OSE-279, a proprietary anti-PD1 therapy currently undergoing a phase 1/2 clinical trial in solid tumors. The initial positive results from this trial, announced in October 2023, have demonstrated the potential for OSE-279 either as a monotherapy or in combination with other therapies.
OSE Immunotherapeutics is also making strides with OSE-127, lusvertikimab, a humanized monoclonal antibody antagonist of the IL-7 receptor. The ongoing Phase 2 trial is evaluating its efficacy and safety in patients with moderate to severe active UC. The trial has been recommended to continue until its completion, with results expected in mid-2024.
In the area of transplantation, the France-based biotech company has seen progress with FR104/VEL-101, an anti-CD28 selective monoclonal antibody. Developed in partnership with Veloxis Pharmaceuticals, this product has completed two clinical trials – phase 1/2 and phase 1 – with results expected in 2024. The product has also received a Fast Track designation from the FDA for the development of FR104/VEL-101 for prophylaxis against transplant rejection.
Additionally, OSE Immunotherapeutics has advanced its partnership with Boehringer Ingelheim on selective SIRPα antagonists, namely BI 765063 and BI 770371. These are being developed for advanced solid tumors and have shown positive phase 1 results in various combinations.
Based in the capital of France, biotech company Owkin is renowned for its AI-assisted approaches in medical research and development, primarily focusing on cancer treatment advancements. Established in 2016, the company’s platform employs predictive algorithms to improve research into new treatments, ensuring that patient privacy is upheld during data analysis.
A pivotal moment for Owkin was the substantial investment of $180 million from Sanofi, elevating it to “unicorn” status, a term denoting startups valued at over $1 billion. This investment, resulting in Sanofi acquiring a stake of 10% to 15% in Owkin, was part of a broader strategic alliance aimed at refining clinical trials and identifying new biomarkers for various cancers, including lung, breast, and multiple myeloma.
Additionally, Owkin’s collaboration with Bristol Myers Squibb, featuring an $80 million investment, focuses on expediting drug development across numerous therapeutic areas. This partnership emphasizes the utilization of multimodal and rich biological data and is a significant stride in integrating machine-learning solutions into clinical trials, potentially revolutionizing patient outcomes and the speed of new drug introductions.
Owkin has also recently entered a collaboration agreement with MSD (Merck & Co Inc., Rahway NJ, USA) to develop and commercialize artificial intelligence (AI)-powered digital pathology diagnostics specifically for the European Union market. This partnership is focused on improving diagnostic procedures and patient treatment approaches, particularly in enhancing the testing rates for microsatellite instability-high (MSI-H) in various cancer types.
In March 2023. Owkin launched the PortrAIt project, a €33 million AI-powered precision medicine venture for cancer diagnosis and treatment, with backing from the French Government. This collaboration involves leading French research hospitals and biotech companies, aiming to develop a minimum of 15 AI-driven tools to advance cancer diagnosis. The project seeks to establish a research and collaboration platform, aiming to implement new AI-based patient diagnostics in French hospitals within four years.
Sensorion, the Montpellier-based biotech company has established itself as a leader in gene therapies for hearing loss. The most recent development is the approval to initiate a phase 1/2 clinical trial for SENS-501, a gene therapy aimed at treating hearing loss caused by mutations in the gene encoding for otoferlin. This therapy represents a significant advancement, particularly for children with congenital deafness, a condition for which there are currently no approved curative treatments. The trial, named Audiogene, is focused on pediatric patients aged six to 31 months and aims to evaluate the safety, tolerability, and efficacy of intra-cochlear injection of SENS-501.
In addition to SENS-501, Sensorion has secured $38 million (€35 million) in private placement financing to further develop its innovative therapies for hearing loss disorders. This funding, supported by leading investors like Redmile Group, Invus, and Sofinnova Partners, will enable Sensorion to advance its gene therapy programs, including OTOF-GT, into clinical trials and to accelerate preclinical activities for GJB2-GT. These efforts are crucial in addressing hearing loss caused by genetic mutations, a significant global unmet medical need.
The French biotech company’s portfolio also includes other clinical-stage small molecule programs targeting the treatment and prevention of hearing loss disorders. One of their products, SENS-401 (Arazasetron), is progressing in a phase 2 proof of concept clinical study for cisplatin-induced ototoxicity (CIO) and in combination with cochlear implantation. Sensorion’s commitment to developing novel therapies for hearing loss is supported by its collaboration with the Institut Pasteur, which focuses on the genetics of hearing.
SparingVision is developing treatments for various eye conditions. In September 2022, the french biotech company raised $82 million (€75 million) in a series B financing round, co-led by Jeito Capital and UPMC Enterprises, along with other notable participants like 4BIO Capital, Bpifrance, the RD Fund, and Ysios Capital. This funding is dedicated to advancing the first-in-human trials of their innovative gene therapy products, SPVN06 and SPVN20, and to further develop their genome editing portfolio in collaboration with Intellia Therapeutics.
SPVN06, a gene therapy aimed at halting or slowing disease progression in patients with inherited retinal diseases (IRDs) and dry age-related macular degeneration (AMD), focuses initially on mid-stage Retinitis Pigmentosa (RP). RP, affecting approximately two million patients worldwide, is the primary target of SPVN06. The company anticipates starting the first-in-human clinical trial later in the year, with safety data expected in 2023, and initial proof-of-concept data by 2025.
Moreover, SPVN20, SparingVision’s second gene therapy asset, aims to restore visual acuity and color vision in advanced and late-stage RP. SPVN20, synergistic with SPVN06, is expected to enter clinical trials in 2024, with initial safety and activity data anticipated in 2025.
Additionally, SparingVision has expanded its ocular disease pipeline through the acquisition of GAMUT Therapeutics. This move adds a second gene-independent approach to their product pipeline for rod-cone dystrophies, potentially beneficial for patients at a more advanced disease stage. GAMUT’s lead product, now renamed SPVN20, is designed to restore the function of dormant cone cells in the retina, which could radically change the approach to treating blinding ocular diseases.
Valneva, a specialty vaccine biotech company based in France, has been actively advancing its portfolio in 2023, with significant developments in both clinical and commercial areas.
A major highlight is the FDA approval of their chikungunya vaccine candidate, VLA1553. This vaccine is the first licensed vaccine for chikungunya, a major public health concern without existing preventive measures or treatments. The company has also completed a clinical study in Brazil for VLA1553, focusing on adolescents, and the initial safety data are promising.
Another significant project is their Lyme disease vaccine candidate, VLA15, developed in collaboration with Pfizer. This vaccine is the only one in advanced clinical development for Lyme disease and targets the Borrelia burgdorferi bacterium. The ongoing phase 3 study, VALOR, aims to investigate its efficacy, safety, and immunogenicity.