Release date: 21 June 2020
Spending €300 in a given on an idea seems does not happen very often. However, this has been made in fruition this past Monday by the powerful Central European country of Germany. Germany is the process of acquiring 23 percent of CureVac, a biotech company with intentions of developing a vaccine for the Coronavirus that hampered the welfare of our world. CureVac is working on developing a vaccine with the technology based on messenger RNA which has seen great potential with their recently accounted positive pre-clinical results. They plan on entering human clinical trials this month to advance their progression in order to successful create a vaccine for the Coronavirus.
The progression and potential have caught the eyes of the European Union. The Commission President Ursula von der Leyen has acknowledged that works by CureVac, and has approved for a loan back in March for the biotech company to help advance their works. That following month into April, the European Investment Bank had approved of a €75 million equity investment into the company as well. Collectively, CureVac has positioned themselves to have countries such as Germany and other financial institutes believe in the company, and to buy-in to their future end goal of forming a vaccine. It will be worth noting to see how this plays out for the company’s endeavors, the financial impact from their supporters, and economic influence.