BioNTech's Strategic Acquisition of CureVac Set to Transform mRNA Oncology Landscape
Deal News | Jun 12, 2025 | Globenewswire
German biotech companies BioNTech and CureVac have announced a definitive agreement in which BioNTech will acquire CureVac in an all-stock transaction valued at approximately $1.25 billion. The acquisition, conducted through a public exchange offer, will exchange each CureVac share for $5.46 in BioNTech ADSs, representing a 55% premium over CureVac's three-month volume-weighted average price. The acquisition will strengthen BioNTech's capabilities in mRNA design, delivery, and manufacturing to enhance cancer immunotherapy candidates. CureVac's major shareholder, dievini Hopp BioTech holding GmbH, supports the deal, which is expected to close in 2025, subject to customary closing conditions and regulatory approvals. Key advisors in the deal include PJT Partners, Goldman Sachs Bank Europe SE, and law firms such as Covington & Burling LLP and Skadden, Arps, Slate, Meagher & Flom LLP, among others.
Sectors
- Biotechnology
- Healthcare
- Pharmaceuticals
Geography
- Germany – Both BioNTech and CureVac are headquartered in Germany, and the acquisition involving these companies is primarily relevant to this geography.
- Europe – The acquisition involves entities operating across Europe, with CureVac having sites in the Netherlands, Belgium, Switzerland, and the transaction requiring EU regulatory approval.
- United States – Both companies are listed on Nasdaq, and the transaction involves the exchange of shares under U.S. SEC regulations.
Industry
- Biotechnology – The article involves BioNTech and CureVac, two biotechnology companies with a strong focus on mRNA technology for cancer therapy development.
- Healthcare – The acquisition aims to advance mRNA-based therapies for cancer and other diseases, fitting under the healthcare industry's transformative medicine segment.
- Pharmaceuticals – BioNTech and CureVac are involved in pharmaceutical development, particularly mRNA vaccines, which align with drug and therapy innovation.
Financials
- 1.25 billion USD – Implied aggregate equity value for CureVac under the all-stock acquisition by BioNTech.
- 5.46 USD – Exchange value for each CureVac share in BioNTech American Depositary Shares (ADSs).
- 55% – Premium over CureVac's three-month volume-weighted average price preceding the offer.
- 15.9 billion USD – BioNTech's financial position in cash, cash equivalents, and security investments as of March 31, 2025.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BioNTech SE | Bidding Company | Company | A global next-generation immunotherapy company developing novel therapies for cancer and other serious diseases using mRNA technology. |
| CureVac N.V. | Target Company | Company | A clinical-stage biotech company pioneering mRNA technology for use in vaccines and therapeutics for oncology and infectious diseases. |
| dievini Hopp BioTech holding GmbH & Co. KG | Selling Company | Company | A major shareholder of CureVac that supports the acquisition deal. |
| PJT Partners | Financial Advisor | Company | Served as exclusive financial advisor to BioNTech in the acquisition. |
| Goldman Sachs Bank Europe SE | Financial Advisor | Company | Served as exclusive financial advisor to CureVac in the acquisition. |
| Covington & Burling LLP | Legal Advisor | Company | Served as legal counsel to BioNTech. |
| Skadden, Arps, Slate, Meagher & Flom LLP | Legal Advisor | Company | Served as legal counsel to CureVac. |
| German Federal Government | Government | Government | Expressed general support for the transaction, influencing shareholder decisions. |