Benzinga | Feb 5, 2021 11:02AM EST

CureVac Shares Gain After UK Backs Company's Vaccine Development Efforts For COVID-19 Variants

* The U.K. has entered into a collaboration accord with CureVac NV (NASDAQ: CVAC) to develop messenger ribonucleic acid (mRNA)-based vaccine candidates against COVID-19 variants.

* CureVac will deliver an initial supply of 50 million doses of any resulting vaccine candidates.

* The company will work with the U.K's Vaccines Taskforce (VTF) in assessing the emerging coronavirus strains, and the clinical studies will be expedited for faster regulatory clearance.

* CureVac will also transfer its technology to enable the manufacturing of clinical and commercial quantities of any vaccines that result from the collaboration and the manufacturing of CureVac's existing vaccine against SARS-CoV-2 (CVnCoV), which is currently in Phase 3 trials and is supported by Bayer.

* The company also announced a development pact with GlaxoSmithKline Plc (NYSE:GSK), focused on next-gen COVID-19 vaccine candidates for variants.

* Price Action: CVAC shares gained 6.36% at $116.99 on the last check Friday.