Biontech takes control over Curevac, the German biotech firm
BioNTech, the German pharmaceutical company known for its groundbreaking work in mRNA technology, has completed its acquisition of CureVac, another German pharmaceutical company, in a deal valued at approximately $1.25 billion. This acquisition, announced in mid-2022, is aimed at strengthening BioNTech's research, development, and manufacturing capabilities in the field of mRNA-based cancer treatments.
The takeover, which is subject to regulatory approvals, will see every CureVac share being exchanged for BioNTech shares in the form of American Depositary Shares (ADS). CureVac's research and development site in Tübingen will remain operational post-acquisition.
Alexander Zehnder, CEO of CureVac, has stated that the takeover is more than a business step, as both companies have pursued similar goals for over two decades. This strategic move by BioNTech is expected to accelerate the development and commercialization of mRNA-based cancer vaccines, potentially leading to more effective and durable cancer immunotherapies.
BioNTech, which has been researching cancer immunotherapy using antibody-drug conjugates and mRNA technology, has recently announced a collaboration with US conglomerate Bristol Myers Squibb, focusing on developing BNT327, a promising cancer drug candidate. The acquisition of CureVac can further amplify the clinical and commercial potential of mRNA cancer vaccines as a transformative class of therapeutics.
The transaction will bring together 50.08% of CureVac shares, positioning BioNTech to compete more robustly in the growing mRNA oncology market, which includes over 60 candidates worldwide in clinical trials. The combined capabilities create opportunities for future collaborations both internally across the combined teams and externally with pharmaceutical partners such as Bristol Myers Squibb, Pfizer, and others with whom BioNTech already collaborates.
After the completion of the takeover, CureVac shareholders will presumably hold between 4 and 6 percent of BioNTech. Biontech plans a restructuring, offering the same consideration per share to CureVac shareholders who do not initially tender their shares.
In 2020, both BioNTech and CureVac participated in the race for a COVID-19 vaccine. While BioNTech was successful in developing a vaccine, CureVac was not. Despite this, the acquisition is a significant step forward for both companies in terms of advancing mRNA cancer therapies.
The acquisition of CureVac by BioNTech is a billion-dollar deal, with potential additional payments of up to $7.6 billion if certain development milestones are reached. The German government has confirmed that it is fundamentally positive about the business, suggesting potential support from the Reconstruction Credit Institute, which holds 13.32 percent of CureVac in the name of the Federal Republic of Germany.
The implication of this acquisition for both companies is significant. BioNTech, already pursuing innovative mRNA immunotherapies, can leverage CureVac's technology to enhance its pipeline and manufacturing capacity. CureVac's integration into BioNTech is expected to accelerate the development and commercialization of mRNA-based cancer vaccines, potentially leading to more effective and durable cancer immunotherapies.
In summary, the acquisition is complete as of mid-2025, and it strengthens BioNTech’s cancer therapy portfolio with enhanced R&D and manufacturing capacity. It also paves the way for deeper collaborative ventures, leveraging both companies' mRNA expertise to accelerate progress against cancer and expand into other serious diseases.
Economic and social policy regarding the biopharmaceutical sector may have been influenced by this billion-dollar acquisition, as it positions BioNTech to compete more robustly in the growing mRNA oncology market. The integration of CureVac's technology into BioNTech's business is expected to improve their financial standing, as they collaborate to develop and commercialize mRNA-based cancer vaccines.
