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CVAC Expected to Receive up to 252 million Euros

NASDAQ:CVAC   CureVac N.V.
CureVac Expected to Receive up to 252 million Euros from the German Federal Ministry of Research for Further COVID-19 Vaccine Development and Production Capacity Expansion

In July 2020, CureVac had applied to a grant as part of a special program to accelerate the research and development of urgently needed vaccines against SARS-CoV-2. On July 29, the Federal Minister of Education and Research, Anja Karliczek, announced that CureVac and other companies were eligible for funding according to the recommendation of a panel of experts.

Payments are contingent on reaching predefined milestones. CureVac expects funding of up to 103 million euros in 2020 and up to 149 million euros in 2021.

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