GSK invests in vaccine maker

BRITISH drugs giant GlaxoSmithKline has invested £130million in a firm at the forefront of the race to develop a vaccine for coronavirus.

GSK said it was making the investment in CureVac for 10 per cent of the business and would make an upfront payment of £104million.

The German vaccine company is working to develop and manufacture a new method of preventing the spread of coronavirus.

CureVac’s method uses messenger ribonucleic acid (mRNA).

It allows the company to mimic the antigen needed by using mRNA to activate the body’s immune system to produce the right protein.

In February, then-chief executive Daniel Menichella said he was keen to develop a vaccine that would not only fight Covid-19 but also other coronaviruses such as Mers and Sars.

However, Mr Menichella later left the business after a meeting with US President Donald Trump.

The company denied allegations in reports that the President was trying to get exclusive rights to CureVac’s new solutions. German ministers said that the vaccine would be shared with the world and not just given to individual companies.

The government in Berlin has a 23 per cent stake in the firm.

The European Union later invested €75million (£68million) into the company.

Along with Moderna, CureVac is one of the leading companies in the race for mRNA vaccines. GSK’s agreement covers the research, development, manufacturing and commercialisation of up to five mRNA-based vaccines.

The development could expand the range of diseases that can be prevented or treated, GSK said.

Dr Franz-Werner Haas, acting CureVac chief executive, said: “We are delighted to partner with GSK.

“With this collaboration, we are gaining a world-class partner whose expertise and global footprint will allow us to further develop and translate the value of our platform into potential products for the world.”

‘With this collaboration, we are gaining a world-class partner’