EC in talks with CureVac for COVID-19 vaccine

Clinical-stage German biotech CureVac (Nasdaq: CVAC) saw its shares rise 16% on Thursday and a further 6% to $70.00 pre-market today after it was revealed that the company had concluded exploratory talks with the European Commission with respect to the purchase of its investigational vaccine against COVID-19.

The envisaged contract with CureVac would provide for the possibility for all European Union member states to purchase the vaccine, as well as to donate to lower- and middle-income countries or re-direct to European countries. It is anticipated that the Commission will have a contractual framework in place for the initial purchase of 225 million doses on behalf of all EU member states, to be supplied once a vaccine has proven to be safe and effective against COVID-19. The Commission pursues intensive discussions with other vaccine manufacturers.

CureVac noted that its mRNA-based vaccine candidate to prevent SARS-CoV-2 infection is currently in a Phase I clinical trial at different study sites in Germany and Belgium. The aim is to determine the optimal dose as well as to evaluate the safety and immunological profile of the vaccine in humans. The company is expecting first results in early fourth-quarter 2020. Based on the results of the Phase I clinical trial, it plans to initiate a Phase IIb/3III clinical trial also in fourth-quarter 2020.