Biontech takes control over Curevac, the German biotech firm.
BioNTech, the German pharmaceutical company known for its COVID-19 vaccine, has announced its intention to acquire CureVac, a rival company based in Tübingen, in a definitive purchase agreement valued at approximately $1.25 billion. The acquisition, pending customary closing conditions and regulatory approval expected within 2025, is strategically designed to strengthen BioNTech’s research, development, manufacturing, and commercialization capacities in investigational mRNA-based cancer immunotherapy.
The deal, which is expected to close by the end of 2025, will see BioNTech acquiring all shares of CureVac. This transaction will involve exchanging every CureVac share for BioNTech’s "American Depositary Shares" (ADS). If the minimum acceptance threshold of 80% is not met, a planned restructuring will offer the same consideration per share to remaining CureVac shareholders.
The acquisition is focused on bringing further know-how on mRNA-based cancer therapies into BioNTech. By integrating CureVac’s advanced mRNA technology platforms and manufacturing capabilities, BioNTech aims to consolidate leadership in mRNA therapeutics, thereby accelerating its progress toward commercializing mRNA-based cancer vaccines and immunotherapies.
CureVac's German research and development site will be maintained after the acquisition. Several CureVac shareholders, including Dievini (a biotech holding owned by SAP co-founder Dietmar Hopp), have signed agreements to tender their shares, subject to certain conditions. Bristol Myers Squibb has agreed to pay BioNTech $3.5 billion, with no strings attached, with the rest to be paid by 2028.
The acquisition is expected to have a billion-dollar volume. After the acquisition, CureVac shareholders will probably hold between 4 and 6 percent of BioNTech. Both BioNTech and CureVac are listed on the US technology exchange Nasdaq.
The German government has confirmed that it basically supports the transaction. The broader impact on the pharmaceutical industry is significant: this deal reflects and reinforces the trend of consolidation among mRNA technology developers to enhance pipeline depth, manufacturing scale, and intellectual property control. It also potentially positions BioNTech to compete more effectively against other major players such as Moderna in the emerging field of mRNA-based cancer therapies, which is gaining momentum with several late-stage clinical trials underway.
BioNTech's cancer therapy research includes the use of antibody-drug conjugates and mRNA technology. If certain development milestones are met, BioNTech could receive an additional $7.6 billion from Bristol Myers Squibb. By the end of 2025, BioNTech is researching cancer immunotherapy and aims to submit a first approval application in the USA for a next-generation chemotherapy against uterine cancer.
In summary, BioNTech's acquisition of CureVac is expected to close in 2025 and will likely boost innovation and commercial potential in mRNA oncology, reinforcing BioNTech’s role as a key driver in the evolving mRNA cancer vaccine and immunotherapy landscape.
[1] BioNTech to Acquire CureVac in All-Stock Deal Valued at $1.25 Billion, BioNTech Press Release, link [2] BioNTech to Acquire CureVac, Reuters, link [3] BioNTech to Acquire CureVac, BioCentury, link [4] BioNTech to Acquire CureVac, Yahoo Finance, link [5] BioNTech to Acquire CureVac, GlobeNewswire, link
- This acquisition will allow BioNTech to integrate CureVac's advanced technology platforms, aiming to consolidate its leadership in mRNA therapeutics, thus furthering economic and social policy in the development of mRNA-based cancer therapies.
- The integration of CureVac's technology into BioNTech's capabilities, as a result of the acquisition, will potentially position BioNTech to compete more effectively against other major players in the technology-driven field of mRNA-based cancer therapies.
