CureVac has entered into a €75 million loan agreement with the European Investment Bank (EIB) to support its ongoing development of vaccines against infectious diseases – including its vaccine candidate CVnCoV aimed at preventing SARS-CoV-2 infections.
In addition, the loan will support the CureVac’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 tranches upon completion of pre-defined milestones.
“It does not need a pandemic to prove that new vaccines can be breakthroughs for public health,” said Ambroise Fayolle, EIB Vice-President in charge of innovation and health.
“But in times like ours it becomes clear just how important they are to keep societies running globally. In fact, the only way to end the dramatic situation the world is facing since the outbreak of the COVID-19 pandemic would be a safe and effective vaccine.
“Thanks to our cooperation with the European Commission, we can finance more and more innovative biotech and medtech companies, such as CureVac, in their research and development of vaccines, therapeutics and diagnostics solutions.
“This is an added value of Europe, and the EIB does everything it can to maximise this value for the sake of people.”