CureVac: New Agreement With GSK Provides Capital Boost; Leaner Operations Should Extend Cash Runway

CureVac and GSK announced they have restructured their existing collaboration agreement into a new licensing agreement in which GSK is providing EUR 400 million upfront to take over the full rights of the mRNA vaccine candidates for seasonal influenza, covid, and avian influenza. In addition to the upfront payment, CureVac will receive up to an additional EUR 1.05 billion in development, regulatory, and sales milestones and tiered royalties in the high single digits to low teens range, pending regulatory approval for these vaccine candidates. These pipeline candidates, in phase 1 and 2 of clinical development, were the most advanced in CureVac’s portfolio. CureVac plans to focus on its very early-stage yet high-value opportunities in oncology. The company has one candidate for glioblastoma in a phase 1 trial and two other undisclosed cancer vaccines in preclinical phases.