Fighting Covid-19 pandemic: EIB lends 75 million euros to CureVacJuly 9, 2020
Hat: Fighting Covid-19 pandemic: EIB lends 75 million euros to CureVac
The European Investment Bank signs a 75 million euros loan agreement with CureVac to support the research and large-scale production of a vaccine against Covid-19.
This funding takes place within the framework of the InnovFin mechanism of the Horizon 2020 programme and more specifically its “Infectious Diseases Research” strand.
CureVac, a clinical biopharmaceutical company, is counting on this loan to finance its CVnCoV candidate vaccine to prevent SARS-CoV-2 infections. The EIB will thus, support the construction of a production site in Tübigen, Germany, as well as the development of CureVac’s GMP (Good Manufacturing Practice) certified manufacturing capacity.
The 75 million euros loan will be disbursed in three tranches of 25 million euros each, as CureVac meets its targeted objectives.
This 75 million euros support is only part of the 400 million euros of additional funding provided to the InnovFin component in the fight against the SARS-CoV-2 pandemic. This component enabled the EIB to support 13 different companies for a total of 316 million euros in the form of loans and thus, to participate in the development of treatments, vaccines and diagnostics against various infectious diseases, mainly Covid-19.
Url description: ec.europa.eu