BioNTech to acquire CureVac in US$1.25B deal

GERMANY— BioNTech has announced its agreement to acquire CureVac, a clinical-stage biotech company specializing in mRNA technology, in a deal valued at approximately US$1.25 billion.

This all-stock transaction will see each CureVac share exchanged for about US$5.46 in BioNTech American Depositary Shares (ADS), reflecting a premium of 55% over CureVac’s recent share price.

The acquisition, expected to close in 2025 pending regulatory approvals and customary conditions, will bring together two leading German companies in mRNA medicine, strengthening BioNTech’s position in the field.

The deal marks a significant step in BioNTech’s strategy to expand its mRNA-based cancer immunotherapy portfolio.

Having gained global recognition for its role in developing the Pfizer-BioNTech COVID-19 vaccine, BioNTech is now focusing on oncology, where mRNA technology shows promising potential.

The acquisition complements BioNTech’s existing capabilities in mRNA design, delivery, and manufacturing, and will integrate CureVac’s advanced research and manufacturing site in Tübingen, Germany.

CureVac had recently shifted its focus exclusively to oncology after selling its influenza and COVID-19 vaccine programs to GSK in a deal worth nearly €1.5 billion (US$1.6 billion).

This pivot aligns well with BioNTech’s ambitions to become a dominant player in cancer immunotherapy.

BioNTech’s CEO, Ugur Sahin, described the acquisition as “another building block” in their oncology strategy and an investment in the future of cancer medicine.

He emphasized the goal of combining complementary technologies to develop innovative cancer treatments and establish new standards of care for various cancer types in the coming years.

The acquisition also follows BioNTech’s recent oncology expansion moves, including a licensing deal with MSD for a bispecific cancer drug valued at up to US$11 billion and the November 2024 acquisition of oncology biotech Biotheus for US$800 million.

These efforts underscore BioNTech’s commitment to building a comprehensive cancer treatment platform that leverages mRNA technology.

Following the deal, CureVac will become a wholly owned subsidiary of BioNTech, with CureVac shareholders expected to own between 4% and 6% of BioNTech.

The transaction has received unanimous approval from both companies’ management and supervisory boards.

BioNTech’s shares rose slightly following the announcement, reflecting investor confidence in the company’s oncology-focused growth strategy.

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