CureVac gets 75 million-euro EIB financing for COVID-19 vaccine development
The European Investment Bank (EIB) and CureVac, a clinical-stage German biotech company developing a new class of transformative medicines based on optimised mRNA, entered into a 75 million-euros ($84 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.
CureVac last month gained approval to begin human trials of its COVID-19 vaccine candidate in Germany and Belgium, although even in the best of cases a request for regulatory approval is not expected until early 2021.
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. The EIB financing will be provided in three 25 million-euro tranches upon completion of pre-defined milestones.
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