CureVac Gets $297 Million Grant for COVID-19 Vaccine

CureVac said it has secured a $297 million grant from Germany’s Federal Ministry of Education to support the development of its COVID-19 vaccine candidate.

The German drugmaker said the grant will go toward further development of the vaccine and the rapid expansion of production. The phased payments of the grant are contingent on achieving predefined milestones. 

The German government took a $338 million minority stake (23 percent) in CureVac in June, but said the company will continue to make its own commercial decisions.