CureVac’s Final Trading Chapter as BioNTech Acquisition Concludes

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A significant era in German biotechnology concludes today. CureVac, the Tübingen-based mRNA specialist, ceases to be an independent entity as its acquisition by rival BioNTech becomes fully effective. The transaction, which consolidates two former national champions, results in the removal of CureVac's shares from major stock indices on December 24th.

BioNTech formally completed the takeover on December 18th, valuing the deal at approximately $1.25 billion. The final exchange ratio was set at 0.05363 BioNTech shares for each CureVac share tendered. This has resulted in BioNTech now holding 86.75% of CureVac's outstanding shares.

A direct consequence of this reduced public float is today's removal from 15 Solactive indices, including key global biotechnology benchmarks. With the free float falling below the critical 15% threshold, index-tracking funds are compelled to divest their remaining holdings, potentially creating near-term trading pressure on the stock. The share price currently stands at €3.48, reflecting a 21% decline over the past month as the market priced in the technical details of the offer.

Leadership and Strategic Rationale

Concurrent with the closing, CureVac's entire executive board has resigned. Control now transfers directly to BioNTech's leadership, with CEO Ugur Sahin steering the integration. Sahin has described the move as a historic consolidation, aimed at merging the mRNA technology platforms of both companies to accelerate the development of novel cancer medicines.

The immediate operational focus will be on combining production capabilities and research pipelines. While CureVac's existing operations will continue for now, they will be progressively absorbed under the Mainz-based parent company's direction.

The Path to Delisting

For remaining minority shareholders, the path forward is clearly defined. Following the index deletion, the new management is preparing for a complete delisting of CureVac shares, which is scheduled for early 2026. This will mark the definitive end of CureVac's journey as a publicly traded company, closing a chapter that began with its high-profile market debut during the pandemic era. The absorption into BioNTech signifies a major realignment within the European mRNA sector, moving from competition to unified development.