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German biopharmaceutical company CureVac announces pricing of public offering of common shares

Editorial team by Editorial team
February 9, 2023
in Health & Medtech, News, Startups
CureVac

Image credits: CureVac

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Tübingen, Germany-based CureVac, a biopharmaceutical company developing transformative medicines based on mRNA, announced on Tuesday, February 7, the price of 27,027,028 common shares in an underwritten public offering at a public offering price of $9.25 per share for gross proceeds of approximately $250M.

The German company has granted the underwriters a 30-day option to purchase up to an additional 4,054,054 common shares (15 per cent of the number of common shares) to be sold in the offering on the same terms and conditions. 

“All of the shares in the offering are to be sold by CureVac N.V,” says the company.

The offering is expected to close on or about February 10, 2023, subject to customary closing conditions, says the company. 

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CureVac: Revolutionising RNA technology

Founded by Ingmar Hoerr and Florian von der Mulbe in 2000, CureVac is a global biopharmaceutical company working in messenger RNA (mRNA) technology.

It claims to have two decades of expertise in developing and optimising this versatile molecule for medical purposes.

The company’s technology uses optimised mRNA as a data carrier to instruct the human body to produce proteins capable of fighting off a broad range of diseases.

In July 2020, the German firm partnered with GSK to develop new products in prophylactic vaccines for infectious diseases based on CureVac’s second-generation mRNA technology.

Both companies extended their partnership to develop second-generation COVID-19 vaccine candidates and modified mRNA vaccine technologies. 

Based on its proprietary technology, the company has built a deep clinical pipeline across prophylactic vaccines, cancer therapies, antibody therapies, and the treatment of rare diseases. 

CureVac N.V. employs more than 1,000 employees across its sites in Germany, the Netherlands, Belgium, Switzerland, and the US.

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