BioNTech To Acquire CureVac For $1.25B In All-Stock Deal

Reuters (6/12, Burger, Kraemer) reports BioNTech agreed Thursday to acquire CureVac “for about $1.25 billion worth of BioNTech shares...to boost its work on new mRNA-based cancer treatments.” The deal “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.” Under the deal, “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 agreement also marks the end to “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.”