Just for us. Its for. Beethoven his truck. Is for. Straight talking 202250th anniversary. Its a 20 Year Old Company thats never brought a Product MarketGerman Biotech Firm cure vaca is now an investor darling as it races to develop a covert 1000. 00 vaccine will talk to its c. E. O. Also on the show wired hard gets the boot from germanys blue chip index its a place that might surprise you. And well look at an unsuccessful business idea from someone who hopes to take advantage of pandemic panic buyers. Into the show im susan busy in berlin the coronavirus pandemic is reshaping the biotech industry investors are piling into small often unproven companies in hopes they can produce a vaccine in the coming months those companies in turn are spending big to expand production for vaccines that are yet fully tested or certified its a gamble on both sides for both investor and company and reflects the urgency for a vaccine as well as the potential to make money. Gem in Pharmaceutical Company cure voc 20 years old 480. 00 employees and it dreams of changing the world it has sights set on the most sought after of prices a Coronavirus Vaccine and the newly listed company is making progress when went public in new york on friday it shares rose 249 percent during the 1st day of trading. May have struck it rich. Cure vacas just one of many quit vaccine hopefuls 170. 00 companies from all over the world including the u. S. China japan the u. K. And india are also in the race. Last week russia claimed a breakthrough president Vladimir Putin proudly declared they were the 1st to approve a vaccine which he said his own daughter had been vaccinated but scientists the russian vaccine in sputnik 5 is really ready. Whats beyond doubt is that thanks to high tech methods used by the likes of Cure Research is moving faster than ever in normal times it would take 10 to 15 years to get a vaccine to market some companies have reached the Clinical Trial phase in a matter of months regulators are expecting a breakthrough as early as next year no other product in the world has a larger potential market many nations have already placed orders for hundreds of millions of doses. Plans to produce a 1000000000 pay year if its faxing comes to fruition the question is whose will hit the market 1st. Of all this im joined now by franz verna hasi c. E. O. Of care vax its good to have you on the show. When will it be for when do you expect your company to have a vaccine ready for the public and how much will it cost produce we are planning to have the vaccine or a somewhere mid next year depending certainly on the data youre running Clinical Trial with will be prudent after 1st Clinical Data it would we expect in september october. And you know how much of the writing area. The right thing at the end of the day it will be somewhere d based on the cost of goods and sony or what went into the technology which has been invested into for the last 20 years in order to make it happen but it should be afforded both so you shouldnt overdo it with the price there are certain settings already done we are on a very low base cost of goods and that should be reflected in the price areas well so i would guess somewhere between 10 and 15 year olds in 15 years are you already in discussions with governments to supply certain amounts of the vaccine yes of course we have got something to her and have seen that governments are doing this advance purchase agreements im certain we are in discussions. Can you give us any names of the governments that your instructions with right now but at the moment are current so. Your company is 20 years old has yet to bring a product to market why do you believe it can deliver now in such a short timeframe. Well the technology has been developed to move its hears in order to get it to can all of you in this stage that you can really develop product on it it takes a certain period of time and this m r n a technology what we have is d very versatile so if you know the virus the secrets of the rise because were not working with a virus directly but with the sequence of the secrets of the virus and this is what we are coding on the are in a which has been in humans and this is really a rep at development certainly the reparative element is due to the fact with the regulatory authorities as well that we are facing a pandemic which needs certain requirements but always taken an eye on safety and security enter a billet before the patient. So. If i understand correctly the technology has improved the Regulatory Environment has improved but should we believe that m r n and therapies vaccines in this case are going to suddenly theyre going to work in the next few months just because the urgency is greater or is there a chance that something might fail during the larger phase 3 test for example. Of course the risk of development is always there what the are in a can do is that you really fastly can code exactly the protein the want of protein for the very target on the are in a to produce it also repartee because a synthetic process full of yarn a manufacturing but it doesnt take the risk of Product Development of course and this is why you are running Clinical Trials and there will be loads of data not only with us but also our own 8 players when you are running Clinical Trials and then you will see what the data would bring and one should not forget we are dealing with a virus where nobody knows exactly all the elements of the virus what you need in order to be protected how long youre protected its a new virus but the r. N. A. Can really address to to the fact that you can develop rather quickly on the basis of army to really have a vaccine and then to test it and we should mention 2 of those other firms that are also working as area by on tac all danna do you consider this a range with other biotech firms. Well 1st of all it is a race against the time there is a pandemic outbreak there with a huge effect on Society Nobody you know doubts about this one and therefore its a race and. Not that much against the competitors and at the moment and hopefully all of the expected scenes would work there is a raise also to have enough capacity you always start in the beginning and you cant cover everyone and therefore its good that other players are. In the game as well what kind of pressure does that put on your company to be raising capacity that is production level at the same time youre building a vaccine that you dont even know if its going to work or or achieve public approval how essential is that the you get this right well it is enormous and essentially for 4 Different Reasons 1st of all the company is running for 20 years and thats exactly why the company has been funded to make a difference to give a cure in a situation like this one to be fast versatile and of course safe and terrible and hopefully if the case is there as well so its a huge pressure its a huge pressure because there is a pandemic situation out there and certainly everybody is looking to us for good reason because we have got something to offer and this is what we have to prove so the pressure is there but it is a positive pressure because also our employees have been working on it for all these years except for this moment to make a difference and hope it works out. The German Government was an early investor in you at the beginning of the pandemic i should say 300000000 euros just back then to climb out now that youve raised successfully so much more money but i certainly cannot talk to the German Government but the investment and there was a press Conference Also with the minister of economy saying ok this is a long Term Investment and theyre in for several weeks now i think this is not a long Term Investment there is so much more we can do because its not only about cove it is really changing the medicine today and put it on our in a in different regard to the quality of protein therapies as well. All right those friends been a house c. E. O. Of cure of act think you so much for joining us thank you very much having me. And now to some other Global Business stories making headlines. U. S. President trump has called for a boycott of tire maker good year after employees in kansas were told not to Wear Clothing with politically affiliated slogans such as make America Great again or makka in a tweet trump wrote dont buy goodyear tires they announced a ban on maggette hats. Their b. And b. Has filed for an initial Public Offering just months after the coronavirus up into the Global Travel industry in may the company was valued at 18000000000. 00 during a funding round short term rental firm cut almost a quarter of its workforce in response to a shortfall in demand. All month good ordering Company Delivery hero is set to replace wire card on germanys dax index the lim based firm on some of the worlds biggest takeaway delivery brands sin tech firm wire card will leave the dax next week following its scandal over a 2000000000 euro hole in its finances. And with that lets go to financial correspondent lee bards in frankfurt. How delivery hero get to this point. Low tech company its never made a profit in this life and its not very much for that though its a next attacks but it met the 2 criteria that are in play at the moment for a dax membership it has enough market Value Investors eagerly trading the shares more than the other candidates and it has the appropriate market value also giving at the top spot and succeeding although many people not happy with the way this is happening or i can imagine not especially conditions under which wire cards went out there for us in frankfurt thank you. Now to a less successful Business Model well as europe went into lockdown several months ago panic buying said in french filled their cellars with wine the germans stocked up on toilet paper and some Small Business opportunity there is always a risk getting caught with their pants down pallets of toilet paper stretching right up to the ceiling the warehouse is full dark rooms who runs the supermarket in northern germany wasnt expecting this when the demand for every day Household Goods exploded at the beginning of the coronavirus pandemic in march the retailer ordered in bulk from portugal russia and greece as a look like germany was going to be sold out he ordered over 10000. 00 packets of blue paper and invested 20000. 00 euros but then he was left sitting on the. For me put it on sale cut prices to 0. 99 for 2 euros 0. 22 but it stocked like lead on our shelves and always had to make. The laws of the market have left them facing a hefty bill 1st off the goods came too late and secondly the quality of the imported goods was not up to Consumer Expectations the consumer is a creature of habit even in a crisis and hes prepared to pay for that privilege and so the important toilet paper is blocking the warehouses and storage areas. Now the businessman is donating his bulk purchases to social institutions thus making a virtue out of a necessity. There go the ball so its well a paper market and thats your Business Update more you can always find out the latest dot com slash business check us out on facebook and twitter m c its like lets watch. Our health is priceless. Few but the pandemic has shown. The world and just money is involved. Please take a look at the numbers and show. Examples of how health care and businesses Work Together so that those products. Made in germany. W. Im not proud of and they will not succeed in dividing us out not succeed in taking the people off the streets because were tired of this dictatorship. Taking the stand global news that matters. Made for minds. Weve never been so worried about our health the pandemic has shocked us look this up and change the way we live work and play its also drawn attention to the vast differences in spending on health care in Different Countries and in this drawn out crisis with no end in sight resources financial and medical a stretch to the limit even beyond the