EU offers 80 mln euro for development of vaccine against Coronavirus

BRUSSELS The European Commission Monday offered up to 80 euro million (USD 89 million) of financial support to a vaccine developer in Germany, to scale up development and production of a vaccine against the Coronavirus in Europe.

“We are determined to provide CureVac with the financing it needs to quickly scale up development and production of a vaccine against the Coronavirusm,” said EU Commission President Ursula von der Leyen in a statement.

Von der Leyen was a former German defence minister.

Founded in 2000, the CureVac is a German biopharmaceutical company based in the city of Tubingen.

It has developed a novel technology to overcome one of the biggest barriers to using vaccines, the need to keep them stable without refrigeration, noted an European Commission press release.

Preliminary studies have shown that the technology holds a promise for rapid response to COVID-19. If proven, millions of vaccine doses could potentially be produced at low costs in existing CureVac production facilities.

CureVac has already started its COVID-19 vaccine development program and estimates to launch clinical testing by June 2020.

Source: Kuwait News Agency