Germany plans to invest €300m in the coronavirus vaccine developer CureVac, securing a stake in a bid to block a foreign takeover of the company after it attracted interest from the Trump administration.
Berlin said it would acquire a 23 per cent stake in CureVac — a key player in the race to develop a Covid-19 vaccine — on the day it emerged the private biotech group was planning an IPO in New York.
The company is due to start clinical trials for a Covid-19 vaccine this month and is one of a handful of companies working with mRNA technology, which can produce a vaccine more swiftly than traditional methods.
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