German government invests in the development of a vaccine

300 million euros for biotech company German government invests in the development of a vaccine

The German government is investing 300 million euros in the biotech company CureVac AG, which is working on a COVID-19 vaccine, in a move designed to accelerate vaccine development, as Federal Economics Affairs Minister Peter Altmaier stressed.

Syringe with ampoule

More than 100 projects worldwide are working to find a vaccine against COVID-19, seven of them in Germany

Foto: Colourbox

The German government is investing 300 million euros in the biopharmaceutical company CureVac AG, which is working on a vaccine against COVID-19. "CureVac’s technology has the potential to develop new vaccines and treatments for a great many people, and to make these products available via the market," underscored Peter Altmaier, Federal Economics Affairs Minister at a joint press conference with the main shareholder Dietmar Hopp, SAP co-founder and co-founder of the investment company dievini Hopp BioTech holding GmbH & Co. KG.

At the same time this step is an important first move to realise the extensive Corona Economic Stimulus and Future Technologies Package adopted by the German government on 3 June 2020. In the package, the government pursues the goal of achieving greater independence in the manufacture of active ingredients and primary products, and in the production of vaccines. "This investment is a step in the right direction," said Peter Altmaier.

You will find more information on the government’s stake in CureVac AG here.

Authorisation for clinical study

On Wednesday, CureVac received the authorisation to proceed with a clinical study on a potential COVID-19 vaccine in Germany, announced the Paul Ehrlich Institute, Germany’s vaccine regulator. That makes CureVac the second German company to launch a clinical study of a coronavirus vaccine, following the Mainz-based company Biontech.