CureVac cuts COVID-19 vaccine production plans
FRANKFURT, Sept. 14 (Reuters) – German biotech company CureVac (5CV.DE) on Tuesday announced that it had canceled manufacturing contracts for its experimental COVID-19 vaccine with two potential partners, after rivals with approved injections increased the production.
Agreements with Swiss group Celonic and German Wacker (WCHG.DE) would be terminated, but existing production agreements with Rentschler Biopharma and Novartis (NOVN.S) would remain unchanged, CureVac said in a statement.
CureVac has fallen far behind rivals BioNTech (22UAy.DE), partner of Pfizer (PFE.N) and Moderna (MRNA.O), in trying to develop a COVID-19 vaccine based on mRNA.
“The continued increase in mRNA manufacturing capacity as well as the progress of large-scale vaccination efforts have dramatically altered the demand for our first generation COVID-19 vaccine, CVnCoV, in recent months,” said CureVac Director of Operations, Malte Greune.
CureVac released disappointing test data on its initial vaccine candidate in June and July, and European regulatory approval is still pending. Read more
He is also working with GlaxoSmithKline (GSK.L) on a next generation of COVID-19 vaccines. Read more
Reporting by Ludwig Burger; Editing by Maria Sheahan
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