The Tübingen-based biotech company Curevac had long been making big noises, but ultimately failed colossally in developing its own Covid vaccine. Not even the well-dressed relative effectiveness of the vaccine candidate could exceed 50 percent. This naturally means high losses. But the EU, primarily financed by Germanyis generous – and gives the company a whopping 450 million euros.
They had already been paid for agreed deliveries – deliveries that of course never came. Nevertheless, Curevac is allowed this money now keep without doing any work for it. “It is important that we have received confirmation from the European Union that the upfront payment of 450 million in connection with the terminated pre-purchase agreement for CVnCoV does not have to be repaid,” said CFO Pierre Kemula.
Germany is also sticking with the company. At the time, the federal government had a 16 percent stake in Curevac, to protect against a possible takeover from abroad. Peter Altmaier (CDU) even ignored the concerns of his own Ministry of Economic Affairs. Curevac, in cooperation with GlaxoSmithKline (GSK), has now started a new trial for a Covid vaccine – and Germany has already signed contracts with the company until 2030.