Germany: EIB and European Commission provide CureVac with a €75 million financing for vaccine development and expansion of manufacturing

The EIB financing will be provided in three 25 million tranches upon completion of pre-defined milestones.

Metadata
Provider: 
ECEC
URL: 
https://www.eib.org/press/all/2020-181-germany-eib-and-european-commission-provide-curevac-with-a-eur75-million-financing-for-vaccine-development-and-expansion-of-manufacturinghttps://www.eib.org/press/all/2020-181-germany-eib-and-european-commission-provide-curevac-with-a-eur75-million-financing-for-vaccine-development-and-expansion-of-manufacturing
Retrieved on: 
Monday, July 6, 2020
Information
Tags: 
European Union, Economy of the European Union, Multilateral development banks, Financial services, European Investment Bank, Banking, CureVac, EIB, Vaccine, Exbibyte
Summary
Key Points: 
  • The EIB financing will be provided in three 25 million tranches upon completion of pre-defined milestones.
  • But in times like ours it becomes clear just how important they are to keep societies running globally.
  • This is an added value of Europe, and the EIB does everything it can to maximise this value for the sake of people.
  • Recently we have presented our vaccines strategy to accelerate the development, manufacturing and deployment of vaccines against the novel coronavirus.
  • Pierre Kemula, Chief Financial Officer of CureVac, added: We are very pleased with the EIB financing.
  • The IDFF is an example of successful collaboration between the European Commission and the EIB in the face of a health crisis.
  • The joint European Commission and EIB Group initiative falls under Horizon2020, the 2014-2020 EU research and innovation programme.
  • IDFF enables the EIB to provide between 7.5 million and 75 million of funding to innovative players active in developing vaccines, drugs, medical and diagnostic devices and research infrastructure for combatting infectious diseases.
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