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Home / Business / The coronavirus vaccine maker backed by Bill and Melinda Gates skyrocketed during its Wall Street launch

The coronavirus vaccine maker backed by Bill and Melinda Gates skyrocketed during its Wall Street launch



CureVac values ​​its IPO at $ 16 a share. Shares quickly soared more than 200%, to about $ 49.

Companies are competing with companies like Modern (MRNA), Novavax (NVAX), BioNTech (BNTX) and Pfizer (PFE)is also backed by billionaire Dietmar Hopp, the co-founder of the German software giant SAP (SAP).
Hopp owns almost half of CureVac. German Government and Leader of Big Pharma GlaxoSmithKline (GSK) also has large stakes.
Bill & Melinda Gates Foundation, charity of multi-talented billionaire Microsoft (MSFT) co-founder and wife, invested $ 40 million in the company in 201
5.
CureVac recently received approval from the German and Belgian governments to begin a clinical trial of one of the vaccines for Covid-19.

The company generated € 17.4 million ($ 20.6 million) in revenue in 2019, a 35% increase from the previous year. It’s still not profitable.

CureVac also has another big name on its list of partners: the company is working on technology with Elon Musk’s electric car giant. Tesla (TSLA). The company has had an intellectual property and development agreement with Tesla since November 2015, according to their legal filings with the Securities and Exchange Commission.
Last month, Musk tweeted that Tesla’s Grohmann division was helping build a molecular printer for CureVac – a possible “side project” with other pharmaceutical companies.
CureVac is one of those biotechnologies that has also caught the attention of the Trump administration. The company has denied reports published earlier this year that President Trump is seeking to invite some of its German scientists to the United States to study vaccines.
However, Hopp does not rule out the possibility that the company cooperates more closely with the US.

He said in March that CureVac “is committed to the goal of protecting everyone from infection and improving therapies for patients worldwide” and added that the company’s intention is to create “Sustainable creative infrastructure and jobs in Germany.”




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