BioNTech Expansion: Acquisition of CureVac Announced
Deal News | Jun 12, 2025 | Globenewswire
BioNTech SE has announced its strategic acquisition of CureVac N.V., through a public exchange offer, aiming to enhance its capabilities in mRNA-based cancer immunotherapy research, development, manufacture, and commercialization. CureVac's valuation is estimated at $1.25 billion, with each share to be exchanged for BioNTech American Depositary Shares at a premium of 55%. This acquisition, expected to close in 2025, is a key milestone in BioNTech’s oncology strategy, strengthening its expertise and proprietary technologies. Supported by joint major shareholders, the acquisition aims to consolidate complementary scientific capabilities under one roof. Legal advisors include Covington & Burling LLP for BioNTech, and Skadden, Arps, Slate, Meagher & Flom LLP for CureVac. PJT Partners and Goldman Sachs are the exclusive financial advisors. BioNTech’s robust financial position, with liquid assets of €15.9 billion, and its established mRNA industry presence provide a strong basis for accelerating innovative treatments in oncology.
Sectors
- Biotechnology
- Pharmaceuticals
Geography
- Germany – Both BioNTech and CureVac are German companies, with operations and headquarters based in Mainz and Tübingen respectively.
- United States – The transaction involves American Depositary Shares (ADSs) and regulatory filings with the U.S. Securities and Exchange Commission (SEC).
Industry
- Biotechnology – Both BioNTech and CureVac operate in the biotechnology sector, focusing on mRNA technology for medical applications.
- Pharmaceuticals – The companies are involved in developing treatments for cancer and infectious diseases, key areas within the pharmaceutical industry.
Financials
- 1.25 billion USD – The implied valuation of CureVac in the acquisition deal.
- 5.46 USD – The value assigned per CureVac share in the exchange offer.
- 15.9 billion EUR – BioNTech's liquid assets, payment equivalents, and securities investments as of March 31, 2025.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BioNTech SE | Bidding Company | Company | An innovative immunotherapy company advancing the development of therapies against cancer and other serious diseases. |
| CureVac N.V. | Target Company | Company | A pioneering multinational biotech firm focused on mRNA technology for medical applications, founded in 2000. |
| dievini Hopp BioTech holding GmbH & Co. KG | Major Shareholder | Company | A principal shareholder of CureVac. |
| Kreditanstalt für Wiederaufbau | Government Supporter | Government | Holds 13.32% of CureVac's shares, representing the German government's interest. |
| Covington & Burling LLP | Legal Advisor | Company | Provides legal counsel to BioNTech for the acquisition. |
| Skadden, Arps, Slate, Meagher & Flom LLP | Legal Advisor | Company | Advises CureVac on legal aspects of the transaction. |
| PJT Partners | Financial Advisor | Company | Acts as exclusive financial advisor to BioNTech. |
| Goldman Sachs Bank Europe SE | Financial Advisor | Company | Serves as exclusive financial advisor to CureVac. |