BioNTech has announced the acquisition of fellow German biotech CureVac in an all-stock transaction valued at approximately $1.25 billion. Under the agreement, CureVac shareholders will receive about $5.46 in BioNTech American Depositary Shares (ADS) for each CureVac share, representing a 55% premium over CureVac’s recent share price. 

This strategic move aims to bolster BioNTech's capabilities in developing mRNA-based cancer immunotherapies, reflecting its long-term focus on oncology beyond its COVID-19 vaccine success in partnership with Pfizer. The acquisition will also resolve ongoing patent disputes between the two companies, including a significant case involving mRNA technology. 

CureVac, headquartered in Tübingen, Germany, had previously shifted its focus towards cancer treatment, exiting flu and COVID-19 vaccine development through a deal with GSK after its initial COVID-19 vaccine candidate showed limited efficacy in clinical trials. The integration of CureVac's research and manufacturing facilities is expected to enhance BioNTech's production capacity and accelerate the development of next-generation mRNA therapies. 

The transaction is anticipated to close later in 2025, pending regulatory approvals and shareholder acceptance. Post-acquisition, CureVac shareholders are expected to own between 4% and 6% of BioNTech.