The deal comes after the head of the European Commission, Ursula von der Leyen, announced the plan to the media on Monday.
"The coronavirus continues to spread rapidly across Europe," she said at a news conference. "We need a safe and effective vaccine to end this pandemic."
She added: "A few days after our contract with BioNTech and Pfizer, I am happy to announce a new agreement. Tomorrow, we will authorise a new contract to secure another COVID-19 vaccine for Europeans. This contract allows us to buy up to 405 million doses of a vaccine produced by the European company CureVac."
Von der Leyen also said that the contract with CureVac follows EU funding to the German company to help develop its vaccine.
The latest deal with CureVac follows agreements the European Commission previously reached with AstraZeneca, Johnson & Johnson, Sanofi, and Pfizer for the supply of their potential vaccines, the Reuters news agency reported.
Von der Leyen also told reporters she hoped to finalize a deal soon with US drug maker Moderna for its COVID-19 vaccine, Poland’s PAP news agency reported.
Moderna announced on Monday that its experimental vaccine was 94.5 percent effective in preventing COVID-19 based on interim data from a late-stage trial.
Source: PAP, Reuters, ec.europa.eu