Pharmaceutical giant Biontech acquires Curevac, a fellow German drug firm.
In a significant move for the pharmaceutical industry, BioNTech, a leading German biotech company, announced its acquisition of rival CureVac in June 2025. The transaction, valued at approximately $1.25 billion, marks a strategic expansion for BioNTech's mRNA platform, with a strong focus on oncology.
The acquisition, an all-stock deal, will see CureVac shareholders receive $5.46 per CureVac share in American Depositary Shares (ADS) from BioNTech. This means that CureVac shareholders will exchange their shares for newly issued BioNTech shares based on the valuation. The exact post-acquisition ownership percentages have not been publicly detailed, but CureVac shareholders will become BioNTech shareholders proportional to the number of shares exchanged.
The impact on cancer therapy research is substantial. The integration of CureVac’s mRNA-based immunotherapy pipeline, particularly its glioblastoma program (CVGB), will be incorporated into BioNTech’s cancer research portfolio. This move is expected to accelerate the development of next-generation cancer therapies.
This acquisition complements BioNTech’s July 2025 partnership with Bristol Myers Squibb on a PD-L1/VEGF-A bispecific antibody for solid tumors. With this acquisition, BioNTech strengthens its position as a leader in mRNA-based oncology therapeutics.
The transaction, which involves 50.08 percent of CureVac shares, is subject to regulatory approvals and requires at least 80 percent of CureVac shareholders to accept the offer. The acquisition is planned to be completed by the end of 2025.
Both BioNTech and CureVac participated in the race for a COVID-19 vaccine in 2020, with BioNTech successfully developing a vaccine while CureVac did not. The acquisition aims to bring further knowledge on mRNA-based cancer therapies into BioNTech.
BioNTech and CureVac are listed on the US technology exchange Nasdaq. The acquisition will see CureVac shareholders holding between 4 and 6 percent of BioNTech post-acquisition.
In addition, BioNTech has recently announced a cooperation with US conglomerate Bristol Myers Squibb, worth $3.5 billion without conditions, with potential additional payments of $7.6 billion. Payments from Bristol Myers Squibb to BioNTech will be made in the second quarter and continue until 2028. Certain development milestones could trigger additional payments to BioNTech from Bristol Myers Squibb.
CureVac's research and development site in Tübingen will be maintained after the acquisition. BioNTech plans to submit a first cancer approval application for a next-generation chemotherapy against uterine cancer in the US by the end of 2025.
This movement follows broader trends with mRNA vaccine and therapeutic markets expected to grow significantly through 2032, with BioNTech positioned as a top player alongside Pfizer and Moderna, especially in oncology and infectious disease applications.
References: 1. BioNTech to Acquire CureVac in $1.25 Billion Deal 2. BioNTech to Acquire CureVac: What Investors Need to Know 3. BioNTech to Acquire CureVac: What It Means for the Cancer Immunotherapy Market 4. BioNTech to Acquire CureVac: Implications for the Cancer Therapy Landscape 5. Global mRNA Vaccine and Therapeutics Market to Reach $120 Billion by 2032
Economic and social policy in the pharmaceutical industry has been reshaped by BioNTech's acquisition of CureVac, with the strategy focusing on expanding BioNTech's mRNA platform, particularly in oncology. This integration of technologies from both companies is anticipated to advance the development of next-generation cancer therapies.
