EU weighs in with loan to support CureVac's European operations

The European Commission said on Monday it offered up to 80 million euros ($89 million) of financial support to CureVac to scale up the development and production of a coronavirus vaccine in Europe. The funding pledge comes one day after German government sources told Reuters that the Trump administration was looking in to how it could gain access to a potential vaccine being developed by the unlisted German firm, sparking a backlash in Berlin.

"I am proud that we have leading companies like CureVac in the EU," EU Commission President Ursula von der Leyen said in a statement on Monday. "Their home is here. But their vaccines will benefit everyone, in Europe and beyond." The support takes the form of an EU guarantee of a loan from the European Investment Bank that is currently being assessed.

Separately, CureVac said earlier on Monday its co-founder, Ingmar Hoerr, who was recently reappointed as chief executive, will be taking a temporary medical leave. ($1 = 0.8955 euro)