BioNTech to Acquire CureVac in $1.25B All-Stock Deal

BioNTech has reached a definitive agreement to acquire German competitor CureVac in an all-stock transaction valued at approximately $1.25 billion, with CureVac shareholders receiving about $5.46 in BioNTech shares per CureVac share—a 34% premium over CureVac’s previous closing price. CureVac shareholders will own between 4% and 6% of the combined company upon deal completion, which is anticipated by the end of 2025 pending regulatory approvals. The acquisition will make CureVac a wholly owned subsidiary of BioNTech. The transaction includes a collar mechanism to address fluctuations in BioNTech’s share price before closing. Both companies are known for their mRNA technologies, though only BioNTech achieved a breakthrough in COVID-19 vaccines, and the deal is expected to bolster BioNTech's oncology and mRNA-based therapeutic capabilities. The move underscores an industry shift from vaccines to cancer and other advanced therapies.