STAT+: BioNTech to buy CureVac in $1.25 billion deal, saying it will bolster cancer work
BioNTech said Thursday it would buy CureVac, its onetime competitor in the Covid-19 vaccine race, for about $1.25 billion in an all-stock transaction.
BioNTech said Thursday it would buy CureVac, its onetime competitor in the Covid-19 vaccine race, for about $1.25 billion in an all-stock transaction.
As part of the deal, CureVac investors will get $5.46 in BioNTech shares for each CureVac share, amounting to a 55% premium on CureVac’s average share price from the past three months. CureVac shareholders will own between 4% and 6% of BioNTech. Both companies are based in Germany.
BioNTech, which developed a wildly successful Covid vaccine with Pfizer, has since focused its efforts on developing cancer treatments, just this month announcing that it had licensed one of its experimental cancer drugs to Bristol Myers Squibb in a mulitbillion-dollar deal.
