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Biontech takes over Curevac: New hope in the fight against cancer!
BioNTech acquires CureVac to strengthen mRNA cancer therapies. Transaction valued at $1.25 billion expected by 2025.
Biontech takes over Curevac: New hope in the fight against cancer!
A groundbreaking transaction is imminent in the field of biotechnology: BioNTech is planning to take over the German competitor CureVac in order to combine forces in the field of mRNA technology. This strategic decision aims to develop new anti-cancer drugs and expand the strengths of both companies in research, production and development, such as Antenna KH reported.
BioNTech, known for its success with the corona vaccine and based in Mainz, sees this acquisition not only as an opportunity for expansion, but also as an important step in its oncology strategy. CureVac, which is based in Tübingen and specializes in mRNA therapies, brings valuable know-how and its own technologies to the collaboration.
Details about the takeover and its effects
The acquisition volume is estimated at approximately $1.25 billion, with each CureVac share being exchanged for BioNTech shares. The value of one CureVac share is valued at around $5.46, which corresponds to a premium of over 55% to the average price of the last three months. This brings CureVac shareholders the opportunity to benefit financially from the transaction as well daily news reported.
The full integration of CureVac into BioNTech is planned by the end of 2025. Even if some shareholders do not agree to the exchange, they will still receive the same value of their shares. Support for the takeover also comes from key shareholders and the federal government, which has held 13% of CureVac since 2020.
Strategic backgrounds
Ugur Sahin, co-founder and CEO of BioNTech, highlights the merging of complementary skills and technologies. This vision will be realized through the acquisition, which will enable BioNTech to significantly expand its cancer medicine pipeline and bring innovative therapies to market more quickly. After the takeover, CureVac will become a subsidiary of BioNTech, while the location in Tübingen will remain and be integrated into the network.
The strategic decision to acquire CureVac is not without challenges. The transaction is subject to conditions including a minimum acceptance threshold of 80% of CureVac shares, although this may be lowered to 75%. However, the boards of directors and supervisory boards of both companies have already unanimously approved the deal, indicating strong confidence in their shared future.
But that's not all: BioNTech plans to submit an application for approval in the USA for chemotherapy against uterine cancer in the near future. With the acquisition of CureVac, BioNTech will not only strengthen its position in the field of cancer immunotherapies, but also set the course for sustainable growth, as BioNTech's official announcement shows Investors BioNTech can be found.