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GlaxoSmithKline GSK, +0.63% has teamed up with German biotech CureVac CVAC, +4.39% to help develop a new generation of messenger RNA vaccines to target new strains of COVID-19.
The two companies said in a statement on Wednesday that they would work on a joint approach to address “multiple emerging variants in one vaccine.” The deal is worth €150m.
The news comes after Public Health England said on Tuesday that researchers had identified 11 cases in the U.K. of B.1.1.7 which had a mutation, called E484K, which is present in strains driving a surge in Covid cases in South Africa and Brazil.
GSK, which bought a 10% stake in CureVac in July, also said it will help produce 100 million doses of the German company’s experimental Covid shot through its manufacturing facilities in Belgium.
Shares in GSK traded 0.9% higher on Wednesday, while CureVac’s stock rose 0.8% in pre-market trading as the pair announced their partnership to develop a new vaccine to tackle new strains.
Read: CureVac starts Phase 3 clinical trial of its COVID-19 vaccine candidate
GSK GSK, +0.67% and CureVac said the next generation Covid vaccines can either be used to protect people who have not been vaccinated before, or to serve as boosters if immunity gained from an initial vaccination reduces over time.
“We believe that next-generation vaccines will be crucial in the continued fight against Covid-19,” Emma Walmsley, GSK’s CEO, said in a statement.
“This new collaboration builds on our existing relationship with CureVac and means that together, we will combine our scientific expertise in mRNA and vaccine development to advance and accelerate the development of new Covid-19 vaccine candidates.”
The companies said they aim to introduce the vaccine in 2022, subject to regulatory approval.
CureVac’s existing vaccine candidate is currently in the final stages of testing. The Phase 2b/3 trials, which started in December, includes more than 35,000 participants aged 18 years or older.
CureVac is using the so-called messenger RNA approach, the same as rivals BioNTech BNTX, -1.15% and its U.S. partner Pfizer PFE, -2.26%, as well as biotech Moderna MRNA, +0.70%. The approach instructs cells to create proteins to generate an immune response protecting against a virus.
Unlike the BioNTech- Pfizer vaccine, which needs to be stored at -70° C (-94°F), CureVac’s experimental shot remains stable for at least three months at standard refrigerator temperatures, and up to 24 hours as a ready-to-use vaccine when stored at room temperature.
Read: German vaccine maker CureVac ramps up capacity to 300 million COVID-19 doses in 2021
CureVac listed on Nasdaq last August, raising $213 million, after the German government paid €300 million to take a 23% stake in the company. The company is also backed by Microsoft MSFT, -0.06% founder and billionaire Bill Gates, and German biotech investor Dietmar Hopp.
In November, CureVac said it is setting up a European network to ramp up manufacturing of its vaccine candidate, allowing it to produce up to 300 million doses in 2021 and up to 600 million in 2022.
