Biontech seizes control over Curevac, a fellow German pharmaceutical entity
BioNTech, the German pharmaceutical company known for its work on mRNA vaccines, has announced the acquisition of CureVac, another German pharmaceutical company, in a significant all-stock deal valued at approximately $1.25 billion. The transaction, which was announced on June 12, 2025, and completed in mid-June, marks a strategic merger aimed at expanding BioNTech’s mRNA technology portfolio, particularly to advance cancer therapies.
Terms of the Acquisition
The acquisition was an all-stock deal, meaning BioNTech exchanged its shares for CureVac shares without cash payment. The aggregate equity value of the transaction was about $1.25 billion.
Impact on Cancer Therapies
The acquisition is cancer-focused, designed to enhance BioNTech’s pipeline in mRNA-based immunotherapies. It bolsters CureVac’s early-stage mRNA programs, notably including the glioblastoma program CVGB, which targets aggressive brain tumors. This strategic move complements BioNTech’s other oncology efforts, such as their recent partnership with Bristol Myers Squibb on bispecific molecules for solid tumors, indicating a strong cancer therapy development front.
The Acquired Know-how
The acquisition aims to bring in further know-how on mRNA-based cancer therapies. In these therapies, antibody-drug conjugates are used to bring chemotherapy drugs to cancer cells more specifically with the help of antibodies.
Notable Shareholders
Shareholders who together hold 36.76 percent of CureVac's shares have signed agreements to tender their shares, subject to certain conditions. This includes the biotech holding Dievini of SAP co-founder Dietmar Hopp. In a planned restructuring, CureVac shareholders who do not initially tender their shares will be offered the same consideration per share.
Future Developments
If certain development milestones are reached, BioNTech could receive an additional $7.6 billion from Bristol Myers Squibb. This follows BioNTech's recent announcement of a cooperation with US conglomerate Bristol Myers Squibb, involving the development of a promising cancer drug candidate called BNT327.
This is the second billion-dollar deal that BioNTech has announced in a short period of time. The Tübingen research and development site of CureVac is to remain after the acquisition. After the acquisition, CureVac shareholders are expected to hold between 4 and 6 percent of BioNTech.
[1] BioNTech Press Release, June 12, 2025: https://www.biontech.de/en/news/press-releases/detail/biontech-and-curevac-announce-merger-agreement/ [2] Bloomberg, June 12, 2025: https://www.bloomberg.com/news/articles/2025-06-12/biontech-buys-curevac-in-1-25-billion-deal-to-expand-m-r-n-a-push [3] Reuters, June 12, 2025: https://www.reuters.com/business/healthcare-pharmaceuticals/biontech-to-buy-curevac-for-1-25-billion-to-boost-m-r-n-a-cancer-therapy-2025-06-12/ [4] BioNTech Fact Sheet, June 15, 2025: https://www.biontech.de/en/investors/fact-sheet/
- The acquisition of CureVac by BioNTech, a significant all-stock deal, is expected to enhance both companies' economic and social policy concerning the development of mRNA technology, particularly in advancements for cancer therapies.
- As part of the strategic merger, BioNTech aims to acquire CureVac's technology in mRNA-based cancer therapies, with a focus on using antibody-drug conjugates to more specifically target cancer cells, thereby utilizing advanced technology in its innovation and research.
