The Eli Lilly and Genmab-backed RNA drug developer is now valued at nearly $1.5bn following a decision to refocus on a coronavirus vaccine.

German government-owned development bank KfW agreed yesterday to invest €300m ($339m) in CureVac, the Germany-based RNA therapy developer backed by pharmaceutical firm Eli Lilly.

CureVac is working on messenger RNA (mRNA)-based drugs but its technology could also influence development of a vaccine for Covid-19. It has two drug candidates in phase 1 clinical trials, each of which are targeted at forms of cancer.

The transaction will give KfW a stake sized at about 23% and it comes after the company…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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