June 17, 2020 / 11:40 AM / 22 days ago

Germany not planning to take further biotech stakes after CureVac move - Scholz

BERLIN, June 17 (Reuters) - Germany is not currently planning to take any further stakes in biotech firms, Finance Minister Olaf Scholz said on Wednesday after Berlin announced it would take a stake in German vaccine developer CureVac.

“We don’t have a strategic plan for this now,” Scholz told a news conference to present the government’s second supplementary budget to finance its stimulus package.

Germany announced plans on Monday to take a stake of about 23% in unlisted biotech firm CureVac by backing a 300 million euro ($337 million) capital increase to fund the company’s further development of a COVID-19 vaccine. (Reporting by Michael Nienaber Editing by Michelle Martin)

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