Overview

• The Bundeskartellamt approved the merger without remedies, concluding the deal will not restrict competition or innovation.
• BioNTech plans to acquire CureVac via a share swap valued at more than €1 billion, with completion targeted by year-end.
• BioNTech has a single marketed product, the Comirnaty COVID-19 vaccine with Pfizer, while CureVac currently has none.
• Regulators emphasized BioNTech’s numerous, advanced mRNA oncology projects versus CureVac’s few early-stage candidates.
• The authority pointed to extensive worldwide mRNA R&D and applications beyond COVID, including oncology, as mitigating factors.