How we helped BioNTech develop the first COVID-19 vaccine

The promoter is a biopharmaceutical company at the forefront of developing next generation immunotherapies. The project supports the development of a prophylactic vaccine against severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The investment plan includes R&D expenditures for the development of the product and the design and construction a of large-scale facility for the commercial manufacturing of the vaccine.

The promoter is leveraging its vaccine platform to focus on developing a potent, efficacious, safe SARS-CoV-2 vaccine that could be manufactured rapidly, thereby ensuring a market supply for a substantial proportion of the population. Furthermore, the project is expected to have a positive impact on the sustainable growth and employment of the company. The EIB's services will assess the promoter's research, development and innovation (RDI) strategy, organisation and the expected quality and soundness of the investment during the appraisal.

The project mainly concerns investments in RDI that are expected to be carried out in the promoter's existing facilities or other research centres already authorised for the same purpose and would therefore not require an Environmental Impact Assessment (EIA) under the Directive 2014/52/EU amending the EIA Directive 2011/92/EU. Additional capital expenditures investments could also be expected to be made into the of an existing manufacturing facility to allow large scale production, this aspect of the project falls under the annex II of the EIA directive (2014/52/EU), referring to the manufacture of pharmaceutical products. Full environmental details will be verified during appraisal, including evidence of any screening by the competent authorities.

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the Promoter is after all subject to EU public procurement legislation (Directive 2014/24/EU), then the Bank would require the Promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2014/24/EU, as well as Directive 89/665/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.