The European Union’s European Investment Bank (EIB) has agreed to invest €100m in debt financing into German-based BioNTech to support its Covid-19 vaccine development programme.
The programme, which BioNTech is running in collaboration with Pfizer, involves four vaccine candidates. It is currently in clinical trials in both Germany and the US.
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EIB’s vice-president Ambroise Fayolle commented: “The only way to end the dramatic situation the world has been facing since the outbreak of the coronavirus pandemic is to come up with a safe and effective vaccine.
BioNTech chief operating offer and chief financial officer Sierk Poetting added: “The investments we have made to develop our vaccine platform over the past 12 years have been instrumental in enabling us to develop our COVID-19 vaccine programme rapidly in response to the global health crisis.
“This funding commitment by the EIB will further support the next stage of our COVID-19 scale-up activities as we expand our production capacity to enable global supply.”
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