The Federal Republic of Germany will invest €300 million in CureVac, a biopharma developing mRNA-based drugs.
The funds will be used by CureVac for the further development of the company’s proprietary pipeline and mRNA platform technology and the expansion of business activities.
Under the agreement, the KfW will hold a stake of around 23% in CureVac.
“CureVac’s technology has the potential to develop disruptive new vaccines and therapeutic modalities that are accessible for many people and available via the market,” said Federal Minister for Economic Affairs and Energy, Peter Altmaier.
“The German Federal government has decided to invest in this promising company because it expects that this will accelerate the development programs and provide the means for CureVac to harness the full potential of its technology.
“This is also of high importance for industrial policy as we in Germany and Europe need these essential research results and technologies.
“At the same time, today’s move is a first and important implementation of the comprehensive Corona Economic Stimulus and Future Technologies Package, which was agreed on by the Federal Government on 03 June 2020.
“With this package, we aim to secure more independence in the entire production process of medical substances and vaccines. This investment is a first step in this direction.”