CureVac NV (NASDAQ: CVAC) was founded in 2000 and is headquartered in Tübingen, Germany. It has 484 full-time employees. It is a clinical-stage biopharmaceutical company dedicated to the development of new transformation drugs based on Messenger Ribonucleic Acid (mRNA). The drug has the potential to improve people’s lives.
CureVac NV (CVAC):
CureVac is a biopharmaceutical company headquartered in Tubingen, Germany, dedicated to the development of messenger RNA-based therapies. The company’s focus is on developing vaccines for infectious diseases and drugs for the treatment of cancer and rare diseases. CureVac was formally established in 2000 and is the first company in the world to successfully use mRNA for medical purposes.
Dr. Ingmar Hoerr, the founder of CureVac (a doctoral student at the time), discovered that after applying it directly to tissues, the optimized, historically unstable biomolecule mRNA can be used as a therapeutic vaccine or reagent without complicated reformulation or Molecular packaging. With this discovery, CureVac opens up the world of the potential of using mRNA to treat diseases and develop vaccines.
CureVac’s vision is to revolutionize medicine by enabling the human body to manufacture drugs on its own and to open up new ways to develop therapies. Messenger ribonucleic acid (mRNA) plays a central role in cell biology in the production of proteins in every living cell. CureVac is a pioneer in successfully using mRNA to prevent infections and treat diseases by mimicking the proteins needed for human biological synthesis.
CureVac has cooperated with Boehringer Ingelheim , Sanofi Pasteur, Johnson & Johnson , Genmab , the Bill & Melinda Gates Foundation, Eli Lilly and Company , GlaxoSmithKline , Coalition for Epidemic Preparedness Innovations and International AIDS Vaccine Initiative.
CureVac NV (CVAC) History:
- In October 2013, CureVac cooperated with Janssen Pharmaceuticals Inc., a subsidiary of Johnson & Johnson, to jointly develop a new influenza vaccine.
- In 2013, CureVac announced the establishment of a series of partnerships with the Cancer Research Institute and Ludwig Cancer Research to enable clinical testing of new cancer immunotherapies.
- In March 2014, CureVac won a 2 million euro prize from the European Commission to stimulate new vaccine technologies that may be useful to developing countries, because the company’s research may lead to a new generation of vaccines that do not require refrigeration.
- In July 2014, CureVac signed an exclusive license agreement with Sanofi Pasteur to develop and commercialize an mRNA-based preventive vaccine.
- In September 2014, CureVac has granted the global rights of its first phase drug candidate, CV9202, to Boehringer Ingelheim. Boehringer intends to combine mRNA vaccines with afatinib for advanced and/or metastatic non-small cell lung cancer (NSCLC) with EGFR mutations and inoperable stage III NSCLC.
- In March 2015, CureVac investor Bill & Melinda Gates Foundation (Bill & Melinda Gates Foundation) agreed to provide separate funding for several projects based on CureVac’s proprietary mRNA platform to develop preventive vaccines.
- In September 2015, CureVac established a cooperative relationship with the International AIDS Vaccine Initiative (IAVI) to accelerate the development of AIDS vaccines using the immunogen developed by IAVI and its partners through the vaccine provided by CureVac’s mRNA technology.
- In September 2019, CureVac announced that it would open its US headquarters in Boston, Massachusetts.
- According to a deal with Eli Lilly and Company, CureVac began construction of production facilities in 2016.
- As of 2017, CureVac has received approximately US$359 million (305 million euros) in equity investment worth 1.65 billion US dollars (1.4 billion euros).
- In June 2020, the federal government announced that the state-owned development bank KfW (KfW) will immediately invest 300 million euros in Curevac, which means that it will hold a 23% stake in CureVac.
CureVac NV (CVAC) financing:
- On January 18, 2006, in Series B financing, CureVac received 22 million euros jointly invested by DH Capital and OH Beteiligungen.
- On May 10, 2010, CureVac received an exclusive investment of US$34.9 million from dievini Hopp Biotech Holding in Series C financing.
- On September 18, 2012, in the D round of financing, CureVac again received an exclusive investment of 80 million euros from dievini Hopp Biotech Holding.
- On March 5, 2015, in Series E financing, CureVac received an exclusive investment of US$76 million from the Bill & Melinda Gates Foundation.
- On November 3, 2015, the F round of financing, CureVac received Baillie Gifford led investment, Bill & Melinda Gates Foundation, dievini Hopp Biotech Holding, Northview LifeSciences, Sigma Group and other 6 institutions to invest 98.5 million euros.
- On November 8, 2016, in the F+ round of financing, CureVac received a lead investment from Baden-Württembergische Versorgungsanstalt für Ärzte, and a joint investment of US$29.5 million from LBBW Asset Management and Landeskreditbank Baden-Württemberg.
- On June 15, 2020, KfW Bank (KfW, a state-owned development bank in Germany, established under the Marshall Plan after World War II, and now one of Germany’s largest banks) exclusively invested 300 million euros in CureVac.
- On July 6, 2020, the European Investment Bank (European Investment Bank, founded in 1958) exclusively invested 75 million euros in CureVac.
- 20 July 2020, GSK (GlaxoSmithKline) exclusive investment CureVac £ 130 million.
- 2020 July 21, the Qatar Investment Authority (Qatar Investment Authority) exclusive investment CureVac $ 126 million.
CureVac NV (CVAC) investment:
According to reports, on March 11, 2020, Daniel Menichella will no longer continue to serve as the CEO of CureVac AG and will be replaced by the company’s founder Ingmar Hoerr. According to reports, Menichella met with US President Donald Trump on March 2. According to a report in the German newspaper Welt am Sonntag, Trump tried to persuade CureVac to move to the United States. Reuters, CNBC and the South China Morning Post reported that the German Ministry of Health has confirmed the Sunday Le Monde report. Christof Hettich, chief executive officer of dievini Hopp Biotech Holding, CureVac’s main investor, said: “We want to develop a vaccine for the whole world, not a single country.”
On March 16, CureVac issued a statement on Twitter, stating that “In order to clarify the coronavirus again: CureVac did not receive any notice from the U.S. government or related entities before, during and after the working group meeting held in the White House on March 2. Quotation. CureVac denied all allegations made by the Sunday Le Monde.” On the same day, there were reports that the European Union was investing millions of dollars in the company.
CureVac NV (NASDAQ: CVAC) was listed on NASDAQ on 8/14/2020 IPO. The issue price is $16.00, 13.3 million shares are issued, and 212.8 million US dollars are raised, underwritten by BofA Securities/ Jefferies/ Credit Suisse.