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German vaccine developer CureVac to receive 75 million euros EU loan

Christian Fernsby ▼ | July 7, 2020
European Investment Bank and CureVac sign €75 million loan agreement for the development and large-scale production of vaccines, including CureVac’s vaccine candidate against SARS-CoV-2.
Developer   CureVac
The European Investment Bank (EIB) and CureVac, a clinical-stage biopharmaceutical company developing a new class of transformative medicines based on optimised mRNA, entered into a €75 million loan agreement to support the Company’s ongoing development of vaccines against infectious diseases, including its vaccine candidate CVnCoV aimed at preventing SARS-CoV-2 infections.

Topics: German CureVac

In addition, the loan will support the Company’s efforts to expand its existing Good Manufacturing Practice (GMP) certified production capabilities and accelerate the completion of its fourth production site in Tübingen, Germany.

In mid-June, Germany's Ministry for Economic Affairs and Energy had announced that the government would invest 300 million euros in CureVac to support its development and projects.

"CureVac's technology has the potential to develop disruptive new vaccines and therapeutic modalities that are accessible for many people and available via the market," said German Minister for Economic Affairs and Energy Peter Altmaier when announcing the investment.

The EIB financing will be provided in three €25 million tranches upon completion of pre-defined milestones.