Germany to Buy 23% Stake for 300M Euros in CureVac as World Races for COVID-19 Vaccine

UTC by Benjamin Godfrey · 3 min read
Germany to Buy 23% Stake for 300M Euros in CureVac as World Races for COVID-19 Vaccine
Photo: Depositphotos

In a bid to fight off foreign interference, Germany is set to invest in CureVac, a biopharmaceutical firm that is working on the development of a coronavirus vaccine. The deal is worth 300 million Euros

The coronavirus disease also is known as COVID-19 took the world by surprise when it was declared a highly contagious disease early this year. The disease comes off as a very contagious one with a rapid degree of spread. The first case of COVID-19 was identified and isolated near Munich on 27 January 2020. Since then, about 187,251 cases have been confirmed with an impressive 171,900 recoveries and about 8,863 deaths. Germany maintained very good statistics when compared to other European countries but nonetheless, it suffered economic impacts as much as other states.

Now that the disease has passed its peak, businesses are reopening and travel restrictions are gradually being lifted, every country is prioritizing the discovery and access to a viable vaccine. Coronavirus vaccines that guarantee a weapon against the future outbreak of the disease have been developed by few biomedical laboratories and Germany is set to buy a 23% stake in CureVac in a deal worth 300 million Euros.

Germany and CureVac

CureVac is a biopharmaceutical company headquartered in Tübingen, Germany, that develops therapies based on messenger RNA (mRNA). The company’s focus is on developing vaccines for infectious diseases and drugs to treat cancer and rare diseases. The company repositioned itself as a viable solution researcher in its search for a coronavirus vaccine. The company is currently privately funded with Bill and Melinda Gates among its major investors.

The German government’s interest in investing in CureVac which was announced on Monday by Economy Minister Peter Altmaier came after interests by the United States in acquiring the biopharmaceutical firm in March. Being one of the two active labs in Germany working on the coronavirus vaccine, Germany has resolved to keep the company’s German entities.

Reacting to the plans to acquire the company, Peter Altamaier said:

“The German federal government has decided to invest in this promising company because it expects that this will accelerate development programs and provide the means for CureVac to harness the full potential of its technology.”

“With this investment we aim to give CureVac financial security so that it can continue to work on vaccine production with the same commitment,” added he.

No matter the intentions and plans of the German government, CureVac’s success in developing a coronavirus vaccine will re-establish the importance Germany has in the region and around the world.

How Soon Should We Expect the Vaccine?

The world is still in a fragile state with a new wave of the coronavirus disease being prophesied. The world needs a vaccine as soon as possible so as to regain confidence as the embargo on international travels is lifted. 

With the over 80 labs working on the vaccine, Bill Gates, a very prominent figure in the race for a vaccine believes the timeline for creating a vaccine “could be as little as 9 months or as long as two years.”

With mounting expectations, we can only hope that the world gets a speedy cure/vaccine no matter where it comes from

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Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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