BRIEF—Germany takes stake in mRNA specialist

Germany has invested 300 million euros ($338 million) in the biotech company CureVac, taking a 23% stake in the mRNA-based therapy specialist.

Invested through the Kreditanstalt für Wiederaufbau (KfW), the money will be used to further development of the company’s proprietary pipeline and mRNA platform technology and expand business activities.

Federal minister Peter Altmaier said the investment was: “a first and important implementation of the comprehensive Corona Economic Stimulus and Future Technologies Package,” which was agreed in June 2020.

The investment is part of a move to gain greater independence over the production process for medical substances and vaccines.