The equity investment is part of a cancer vaccine development deal between the companies that could eventually reach more than $1.7bn in size.

Pharmaceutical firm Eli Lilly agreed on Wednesday to invest €45m ($53.3m) in Germany-based RNA therapy developer CureVac as part of a strategic partnership deal that could be worth up to $1.8bn.

Spun out of Tübingen University in 2000, CureVac is developing therapies that exploit messenger RNA, the molecules in cells that build proteins and carry genetic information from the DNA to the ribosomes responsible for biological protein synthesis.

The partnership will involve the development of up to five cancer vaccines…