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Germany Takes 300 Million Euro Stake in Vaccine Developer CureVac

Representative image.

Representative image.

The move was agreed with SAP co-founder Dietmar Hopp - who is an early backer and owner of a stake of more than 80% in CureVac - German Economy Minister Peter Altmaier and Hopp said in an online media briefing.

Germany will take a stake of about 23% in unlisted biotech firm CureVac by backing a 300 million euro ($337 million) capital increase to fund the company's further development of a COVID-19 vaccine.

The move was agreed with SAP co-founder Dietmar Hopp - who is an early backer and owner of a stake of more than 80% in CureVac - German Economy Minister Peter Altmaier and Hopp said in an online media briefing.

Reuters earlier reported that a state investment had been agreed.

first published:June 15, 2020, 17:59 IST