Curevac

#3456

Rank

$2.6B

MarketCap DE

DE Germany

Country

Summary
CureVac N.V., a clinical-stage biopharmaceutical company, focuses on developing various transformative medicines based on messenger ribonucleic acid (mRNA). It is developing prophylactic vaccines, such as mRNA-based vaccine candidates CV2CoV, which is in Phase 1 clinical trial against SARS-CoV-2; CV7202, a prophylactic mRNA-based vaccine, which has completed Phase 1 clinical trial for rabies virus glycoprotein; and CVSQIV, which is in Phase 1 clinical trial against influenza, as well as vaccine for lassa fever, yellow fever, respiratiory syncytial virus, rotavirus, malaria, and universal influenza. The company also develops RNA-based cancer immunotherapies, including CV8102, which is in Phase 1 clinical trial for treating cutaneous melanoma and adenoidcystic carcinoma, as well as squamous cell cancer of skin, head, and neck. The company was founded in 2000 and is headquartered in Tübingen, Germany.

History

Research collaborations

In 2007, Curevac received the innovation prize of the state of Baden-Württemberg and was also the winner of the nationwide Weconomy competition, which is jointly awarded by the Handelsblatt and the Wissensfabrik.In October 2013 CureVac launched a collaboration with Janssen Pharmaceuticals Inc., a Johnson & Johnson company, for the development of novel flu vaccines. Also in 2013, CureVac announced the fourth in a series of partnerships with the Cancer Research Institute and Ludwig Cancer Research to enable clinical testing of novel cancer immunotherapy treatment options.In March 2014, CureVac won a €2 million prize awarded by the European Commission to stimulate new vaccine technologies. Later, in July 2014, CureVac signed an exclusive license agreement with Sanofi Pasteur to develop and commercialize an mRNA-based prophylactic vaccine. By September 2014, the company licensed the global rights for its Phase I candidate – CV9202 – to Boehringer Ingelheim. Boehringer was to conduct trials using the mRNA vaccine in combination with afatinib in advanced and/or metastatic epidermal growth factor receptor mutated non-small cell lung cancer as well as inoperable stage III NSCLC.In March 2015, a CureVac investor, the Bill & Melinda Gates Foundation, agreed to provide separate funding for several projects to develop prophylactic vaccines based on CureVac's proprietary mRNA platform. By September 2015, CureVac entered into a collaboration with the International AIDS Vaccine Initiative to accelerate the development of AIDS vaccines, utilizing immunogens developed by IAVI and partners, delivered via CureVac's mRNA technology. That same month, CureVac announced it would open a United States hub in Boston, Massachusetts.In accordance with its deal with Lilly, the company began construction on a production facility in 2016.In February 2019, the Coalition for Epidemic Preparedness Innovations awarded CureVac a $34 million grant from to develop its proprietary "RNA printer" prototype. The technology is expected to allow the company to rapidly produce mRNA vaccine candidates at scale, from multiple locations globally, to bypass the logistical hurdles that often delay the production of vaccines in response to infectious disease emergencies, and also enable the production of personalized medicines. The initial uses would be for their candidate vaccines for Lassa fever, yellow fever, and rabies.In July 2020, Tesla, Inc CEO Elon Musk announced via Tweet that Tesla and CureVac had reached an agreement to produce portable "RNA microfactories" based on this technology to manufacture CureVac's COVID-19 vaccine candidate. CureVac had stated that the bioprinters would be able to produce “more than a hundred thousand doses” within approximately two weeks. At approximately the same time, Tesla and CureVac filed a joint patent on the technology. In August, Musk reviewed the project with Curevac while in Germany.In November 2020, while again visiting German facilities, Musk Tweeted that CureVac was then using a second generation of the technology, and "Version 3 is under development." He said that the platform would be an “important product for the world.”

Investment

By 2017, CureVac had received investments of approximately in the form of equity and was valued at €1.40 billion. In June 2020, the federal government announced that the state-owned development bank KfW would immediately invest 300 million euros in CureVac, which will mean that it will hold a 23 percent stake in CureVac.On 14 August 2020, CureVac began public trading on the NASDAQ exchange under the ticker symbol, CVAC, raising US$213 million in its initial public offering.

Reports of Trump administration overtures

On 11 March 2020, it was reported that CureVac AG's CEO Daniel Menichella was no longer the company's CEO, having been replaced by company founder Ingmar Hoerr. Menichella was reported to have met U.S. President Donald Trump on 2 March. According to Welt am Sonntag, quoting an anonymous German government source, Trump had attempted to persuade CureVac to relocate to the United States, a proposal vigorously rejected by German officials. On 16 March, CureVac issued a statement on Twitter, stating "To make it clear again on coronavirus: CureVac has not received from the US government or related entities an offer before, during and since the Task Force meeting in the White House on March 2. CureVac rejects all allegations from press."


Mission
CureVac’s mission is to revolutionize medical therapies and treatments and to transform the way diseases are treated. Our vision is to make a meaningful contribution to medical and scientific progress in order to improve patients’ lives

Vision
Our vision is to develop an innovative therapeutic approach to the treatment of cancer, other diseases, and the prevention of infectious diseases. We strive to procure a comprehensive product portfolio of life-changing therapies and treatments to bring our mission to reality.

Key Team

Dr. Sarah Fakih (VP Corp. Communications & Investor Relations)

Dr. Igor Splawski M.Sc., Ph.D. (Chief Scientific Officer & Member of Management Board)

Mr. Thorsten Schuller (Head of Corp. Communications)

Dr. Antony Blanc Ph.D. (MD, Chief Bus. Officer, Chief Commercial Officer & Member of Management Board)

Mr. Malte Greune Ph.D. (COO, Member of Management Board & MD)

Mr. Marco Rau L.L.M., Ph.D. (Gen. Counsel)

Slavica Stevanovic-Heck (Head of HR)


Recognition and Awards
CureVac has won numerous awards and recognitions, such as the 2018 Innovation Award from BioM AG, the 2017 Outstanding Contribution to Science Award from Forte Pharma and Boehringer Ingelheim, and the 2016 Innovation Award from the British Science Association.

References
Curevac
Leadership team

Dr. Franz-Werner Haas L.L.M., LL.M., LLD, Ph.D. (CEO, Member of Management Board & MD)

Mr. Pierre Kemula B.Sc. (MD, CFO & Member of Management Board)

Dr. Ulrike Gnad-Vogt M.D., Ph.D. (Interim Chief Devel. Officer, Sr. VP & Area Head of Oncology and Member of Exec. Board)

Products/ Services
Biopharma, Biotechnology, Therapeutics
Number of Employees
500 - 1000
Headquarters
Tübingen, Baden-Wurttemberg, Germany
Established
2000
Company Registration
SEC CIK number: 0001809122
Revenue
100M - 500M
Traded as
CVAC
Social Media
Fri Mar 01 2024
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