Germany Takes $338 Million Stake in CureVac to Secure COVID-19 Vaccine
Germany is investing $338 million in CureVac, whose COVID-19 vaccine candidate has shown promise in preclinical testing.
The German company last month reported positive preclinical results for the vaccine at a low dose and it is expected to begin a phase 1/2a trial in healthy volunteers within weeks.
The German government is acquiring a 23 percent stake in CureVac, but the deal does not grant Germany exclusive rights to the vaccine, and the government “will not influence corporate policy decisions,” the drugmaker said.
Peter Altmaier, Germany’s minister for Economic Affairs and Energy, said the deal is designed to “secure more independence in the entire production process of medical substances and vaccines.”
In March, CureVac denied reports that the U.S. sought exclusive rights to the vaccine after its then-CEO Daniel Menichella attended a White House meeting to discuss research and development for COVID-19 countermeasures.
The European Investment Bank invested $84.6 million in CureVac in April to help develop the vaccine candidate. — Jordan Williams
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