CureVac’s Final Chapter: Acquisition by BioNTech Concludes

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The independent trading history of CureVac’s shares has officially drawn to a close. BioNTech SE has successfully completed its acquisition of the Tübingen-based biotech firm, with the public share exchange offer period ending on December 18, 2025. The transaction secured acceptance for approximately 86.75% of all outstanding CureVac shares.

Following the high acceptance rate, BioNTech has immediately commenced the process of fully integrating CureVac. Trading in CureVac stock on public exchanges has been halted, and the formal delisting procedure is now underway. For the remaining minority shareholders who did not tender their shares, a mandatory squeeze-out is scheduled for January 2026, marking the definitive end of the company’s tenure on the stock market.

A Strong Final Financial Report

In its last independent earnings release at the end of November 2025, CureVac posted impressive third-quarter results. The company reported revenue of €54.1 million, fueled by milestone payments and licensing agreements. Earnings per share reached €1.21, a positive outcome that significantly surpassed market expectations.

Prior to the takeover, CureVac’s liquidity position was robust enough to fund operations into 2028. This solid financial footing highlighted the underlying value of its mRNA technology platform at the time of the acquisition.

Patent Settlement Valued at $740 Million

A major factor influencing the company's valuation was the resolution of a significant intellectual property dispute. In August 2025, CureVac and its partner GSK reached a global settlement with Pfizer and BioNTech concerning COVID-19 vaccine patents. The $740 million payment from this agreement underscored the strength of CureVac's intellectual property portfolio, assets that now belong entirely to BioNTech.

Moving forward, CureVac’s Tübingen production site will be incorporated into BioNTech’s global manufacturing network. The integrated focus will be on advancing next-generation mRNA immunotherapies and vaccines.