German biotech firm BioNTech (22UAy.DE), has agreed to acquire domestic peer CureVac, for about $1.25 billion worth of BioNTech shares, it said on Thursday, to boost its work on new mRNA-based cancer treatments.
Under the deal, which pairs two former rivals in the race to develop COVID-19 vaccines, CureVac shareholders stand to receive a premium of 55% over the three-month average share price, and leave them with a stake of about 4%-6% in BioNTech, the suitor said.
CureVac's Frankfurt-listed shares surged 27% to a five-month high, valuing the company at €1.04 billion ($1.2 billion), while BioNTech shares were down 2%.
The deal further underscores BioNTech's long-term pursuit of new cancer treatments as it aims to show that its success as Pfizer's COVID-19 vaccine partner, which left its balance sheet flush with billions of euros in cash, was not a fluke.
"With the acquisition, BioNTech aims to strengthen the research, development, manufacturing, and commercialization of investigational mRNA-based cancer immunotherapy," the company said.
CureVac opted to focus on oncology about a year ago when it agreed to sell its remaining influenza and COVID-19 vaccine development to alliance partner GSK.
It had previously cut jobs as it sought to move beyond its failure to develop an mRNA-based COVID vaccine during the pandemic.
GERMAN BIOTECH CHAMPION
The agreement is also set to end CureVac's years-long legal fight over alleged mRNA patent infringement by BioNTech and for a share of vaccine revenues, where CureVac has made little progress.
CureVac shares were worth as much as €120 in December 2020 on hopes it would develop a COVID vaccine, more than double their initial public offer value in August of that year. They are now trading at €4.65.
BioNTech won a major shot in the arm for its cancer drug activities last week when Bristol Myers Squibb agreed to pay up to $11.1 billion to jointly develop a next-generation cancer immunotherapy that could take on rival Merck & Co's best-selling drug Keytruda.
Each CureVac share will be exchanged for about $5.46 in BioNTech American depositary shares, or ADS, but subject to a so-called collar mechanism, BioNTech said.
If the 10-day volume-weighted average price of BioNTech ADS shortly before the closing of the offer exceeds $126.55, the exchange ratio would be 0.04318, and if the price is lower than $84.37, the exchange ratio would be 0.06476.
BioNTech said the deal was supported by SAP SE co-founder and football investor Dietmar Hopp, who holds a stake of about 37% in CureVac.
The German government, owner of about 13% in CureVac for its financial backing during the pandemic, said it welcomed in principle the creation of a "new German biotech champion", and that it would review the offer.
Trump tells Axios he wants direct involvement in who takes over as Iran's next leader, rejecting Khamenei's son as "unacceptable"...
On Thursday (5 March) four drones were directed towards Azerbaijan's Nakhchivan region, according to the Ministry of Defence. Here is what we k...
Tensions in the Middle East are continuing to escalate as Iran and U.S.-backed Israeli forces exchange strikes for...
In an exclusive interview with AnewZ, Iran’s Deputy Foreign Minister Kazem Gharibabadi said the Islamic Republic is "not targeting neigh...
China has outlined its main economic and policy priorities for the coming year in its annual government work repor...
The United States officially left the World Health Organization on 22 January, triggering a financial and operational crisis at the United Nations health agency. The move follows a year of warnings from global health experts that a U.S. exit could undermine public health at home and abroad.
The World Health Organization (WHO) has warned that Afghanistan is facing a worsening humanitarian and health crisis in 2025, with millions of returning refugees expected to stretch the country’s already fragile health system.
Qantas Airways has been fined A$90 million ($58.64 million) for illegally firing 1,800 ground staff during the COVID-19 pandemic and replacing them with contractors, the Federal Court of Australia said on Monday (August 18).
The COVID-19 pandemic exposed deep flaws in how the world prepares for and responds to global health threats. From overwhelmed hospitals to fragmented international coordination, the crisis revealed that preparedness goes beyond stockpiles. It requires trust, transparency, and global cooperation.
In an exclusive interview with AnewZ, Iran’s Deputy Foreign Minister Kazem Gharibabadi said the Islamic Republic is "not targeting neighbouring countries," amid reports of drone strikes on Nakhchivan International Airport on Thursday (5 March).
Trump tells Axios he wants direct involvement in who takes over as Iran's next leader, rejecting Khamenei's son as "unacceptable" and citing the need for a figure who can bring "peace and harmony".
A torpedo from a U.S. submarine sunk an Iranian warship off the coast of Sri Lanka, U.S. Secretary of Defense, Pete Hegseth told reporters as the Iranian conflcit entered its fifth day on Wednesday.
Türkiye has suspended day-trip crossings at its Kapıköy border and two others with Iran as regional tensions escalate following strikes involving the United States and Israel on Tehran. AnewZ's Alisultan Sultanzade was on the ground at the crossing before the restrictions came into force.
Türkiye’s President Recep Tayyip Erdoğan has told Pakistan’s Prime Minister Shehbaz Sharif that Ankara is ready to help reinforce the ceasefire between Pakistan and Afghanistan, as clashes between the two neighbours continue for a sixth consecutive day.
Measles cases across Europe and Central Asia fell sharply in 2025 compared to the previous year but health officials have warned that the risk of fresh outbreaks remains unless vaccination gaps are urgently addressed.
A Florida university has become a new hotspot in a widening U.S. measles outbreak, with health officials confirming multiple infections and hospitalisations.
The World Health Organization has added the Nipah virus to its list of the world’s top 10 priority diseases, alongside COVID-19 and the Zika virus, warning that its epidemic potential highlights the global risk posed by fast-spreading outbreaks.
Belgian authorities are examining suspected cases of infants falling ill after consuming recalled Nestle baby formula, amid warnings that confirmed infections may be underestimated due to limited testing requirements.
Two Nipah infections involving health workers in India have triggered heightened screening across Southeast Asia as authorities move to prevent the high fatality virus from spreading beyond the country.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment