EC Allocates up to € 80 Million for the Production of a Coronavirus Vaccine in Europe

The European the Commission offered up to €80 million of financial support to CureVac, a higly innovative vaccine developer from Tübingen, Germany, to scale up development and production of a vaccine against the Coronavirus in Europe. Commission President Ursula von der Leyen and Commissioner for Innovation, Research, Culture, Education and Youth, Mariya Gabriel, discussed with the CureVac management via videoconference. The Vice-President of the European Investment Bank (EIB), Ambroise Fayolle, also participated. The support would come in form of an EU guarantee of a currently assessed EIB loan of an identical amount, in the framework of the InnovFin Infectious Disease Finance Facility under Horizon 2020.

Commission President Ursula von der Leyen said: “In this public health crisis it is of utmost importance that we support our leading researchers and tech companies. We are determined to provide CureVac with the financing it needs to quickly scale up development and production of a vaccine against the Coronavirus. I am proud that we have leading companies like CureVac in the EU. Their home is here. But their vaccines will benefit everyone, in Europe and beyond.”

Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth, said: “Supporting excellent EU research and innovation is an essential part of our coordinated response against the spread of the Coronavirus. In 2014, CureVac won EU's first ever innovation inducement prize. We are committed to support further its EU-based research and innovation in these critical times. Science and innovation in Europe are at the heart of our policies for protecting people's health.”

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