Germany's $495m stake in vaccine developer

Germany will take a stake of about 23 per cent in unlisted biotech firm CureVac by backing a 300 million euro ($A495 million) capital increase to fund the company's development of a COVID-19 vaccine.

The move was agreed with SAP co-founder Dietmar Hopp, an early backer and owner of a stake of more than 80 per cent in CureVac, German Economy Minister Peter Altmaier and Hopp said in an online media briefing.

Reuters earlier reported that a state investment had been agreed.

In another development, Germany, Italy, the Netherlands and France will pay 750 million euros ($A1.2 billion) for 300 million doses of AstraZeneca's potential COVID-19 vaccine as part of a European deal to secure supplies of the drug, a spokesman for Italy's health ministry said on Monday.

The countries also have an option to buy a further 100 million doses, the spokesman said. For its portion of the deal, Italy will pay about 185 million euros ($A306 million) for 75 million doses.