Boehringer to pay up to $600 million for CureVac cancer vaccine

September 18, 2014 12:21 PM

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(Reuters) - Boehringer Ingelheim is betting on a cancer vaccine to fight lung tumors after signing a deal worth up to $600 million with U.S.-based CureVac, despite recent disappointments with cancer vaccines from rival firms.

The unlisted German drugmaker said on Thursday it was investing 35 million euros ($45 million) upfront, with CureVac entitled to a further 430 million euros - plus royalties on any eventual sales - if the experimental project is a success.

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