As CureVac prepares to push its COVID-19 vaccine candidate in the final stage of trials, it is also working on a pan-EU network to manufacture millions of the vaccine doses.
Pharmaceutical and biotech companies are really gearing up with research and manufacturing facilities to bring the COVID-19 vaccine to market. Germany-based biotech company CureVac (NASDAQ: CVAC) is working on a new European network to boost the manufacturing of its experimental Coronavirus vaccine.
Industry reports also show that CureVac is working to produce 300 million COVID-19 vaccine doses by 2021. Furthermore, it plans to double its manufacturing capacity to 600 million by 2022. CureVac noted that preparations for its COVID-19 vaccine candidate CVnCoV are already underway. Besides, the company is also working out other technology transfer solutions.
Reportedly, CureVac is most likely to announce partnerships with other vaccine developers and manufacturers in the coming weeks. The official press release quotes Dr. Florian von der Mülbe, Chief Production Officer of CureVac, saying:
“It is our goal to ramp up the production capacity of our vaccine candidate within a short period of time to ensure a stable supply. We are currently working with experienced CDMOs across Europe to establish a solid production network. Geographic proximity is an important factor for facilitating alignment and technology transfers.”
Alike other pharmaceutical giants like BioNTech SE (NASDAQ: BNTX), Pfizer Inc (NYSE: PFE), and Moderna Inc (NASDAQ: MRNA), CureVac is using the messenger RNA approach that instructs cells to create proteins and trigger an immune response protecting against the virus. While several of the RNA vaccine candidates have shown great efficacy rate, none is approved by the regulators.
European Commission’s Supply Agreement With CureVac
CureVac is making swift moves collaborating with major global bodies worldwide. EU’s executive arm European Commission has recently entered a supply agreement with CureVac. The agreement states that the German biotech firm will supply 405 million doses of its vaccine candidate. Speaking on this agreement, Commission President Ursula von der Leyen said:
“If the vaccine has proven safe and effective against COVID-19, every Member State will receive the vaccine at the same time, on a pro rata basis, and under the same conditions. This is the fifth contract with a pharmaceutical company for our COVID-19 vaccine portfolio. And we are working on a sixth one, with Moderna”.
Last week, CureVac disclosed clinical data of its vaccine candidate. The data shows the vaccine performance during the Phase 1 clinical trials. The trials also showed a good immune response among humans. Thus, CureVac can put its vaccine candidate in the final stage of trials before the end of 2020.
During the last trading session on Tuesday, CureVac shares (NASDAQ: CVAC) tanked 10% closing at $76.49.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.