Germany-based CureVac, the global biopharmaceutical company developing novel transformative medicines based on messenger ribonucleic acid (“mRNA), including a high potential COVID-19 vaccine candidate, just announced the closing it its follow-on public offering of 5 million common shares at a public offering price of $90 per common share, totaling a financing of approximately $450 million. Moreover, the company just announced a deal with GlaxoSmithKline (GSK) to develop next generation mRNA COVID-19 vaccines. In this new collaboration worth at least €150 million, the two leverage existing relationships to develop what they classify as the next generation of mRNA-based vaccines for COVID-19 with a potential for a multi-valent approach to addressing multiple emerging variants in one vaccine. As part of this deal, GSK will support the production of up to 100 million doses of CureVac’s first generation COVID-19 vaccine candidate known as CVnCoV in 2021.
Raising Lots of Money
It’s been a whirlwind for CureVac as the company worked as a syndicate of investment banks to raise nearly half a billion dollars. Investment banks included BofA Securities, Jeffries and Evercore ISI (joint ...
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