German Government invests €300m in CureVac’s vaccines

Allie Nawrat 15 June 2020 (Last Updated June 15th, 2020 15:25)

The German Government has invested €300m in mRNA-focused CureVac. The investment is made through Kreditanstalt für Wiederaufbau (KfW) and is supported by investor Dietmar Hopp, a major shareholder in CureVac.

The money will be used to advance CureVac's mRNA platform and pipeline, which includes a Covid-19 vaccine candidate. In mid-May the German company announced positive pre-clinical results for its Covid-19 vaccine; it plans to initiate a Phase I/IIA trial in June.

Federal Minister for Economic Affairs and Energy Peter Altmaier noted:  "The German Federal Government has decided to invest in this promising company because it expects that this will accelerate the development programs and provide the means for CureVac to harness the full potential of its technology.

This is also of high importance for industrial policy as we in Germany and Europe need these essential research results and technologies.

"At the same time, today’s move is a first and important implementation of the comprehensive Corona Economic Stimulus and Future Technologies Package, which was agreed on by the Federal Government on 3 June 2020. With this package, we aim to secure more independence in the entire production process of medical substances and vaccines."

CureVac emphasised that this investment does not mean the German Government has exclusive rights to the vaccine: "Of course, we will supply the Federal Republic of Germany with our vaccine when it is fully developed. In general, however, our goal is to help as many people worldwide as possible."