Germany Awards $743 Million to BioNTech and CureVac for Coronavirus Vaccine Development

To accelerate COVID-19 vaccine development and boost vaccine manufacturing capacity within its borders, the German Federal Ministry of Education and Research is awarding BioNTech (NASDAQ: BNTX) and CureVac N.V. (NASDAQ: CVAC) grants worth up to $743 million at current euro-to-U.S. dollar conversion rates.

Specifically, BioNTech can receive up to 375 million euros, or $444 million, to advance its BNT162 vaccine program in collaboration with Pfizer (NYSE: PFE), and CureVac can pocket up to 252 million euros, or $299 million, to continue development of its COVID-19 vaccine program.

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Source Fool.com