Overview

• The all-stock deal unites two mRNA pioneers in a $1.25 billion transaction aimed at boosting BioNTech’s oncology pipeline.
• BioNTech will integrate CureVac’s mRNA manufacturing expertise with its own research to accelerate development of cancer immunotherapies.
• Germany’s €300 million pandemic investment in CureVac leaves the federal government as a continued shareholder in the merged entity.
• Past tensions surfaced when CureVac sued BioNTech for patent infringement in 2022, highlighting earlier competition over mRNA technology.
• The agreement contrasts BioNTech’s global success with its Comirnaty COVID-19 vaccine and CureVac’s halted 2021 vaccine trials after disappointing results.