IPO: Curevac’s mRNA Play For Cures

It all began with an unexpected discovery. CureVac’s founder, Dr. Ingmar Hoerr (a doctoral student at the time), discovered that when it was administered directly into tissue, the historically unstable biomolecule mRNA could be used as a therapeutic vaccine or agent after optimization—no complicated reformulations or molecular packaging needed.

With a single discovery, CureVac opened the world up to the potential of mRNA to treat diseases and create vaccines. Officially founded in 2000, CureVac is the world’s first company to successfully harness mRNA for medical purposes, “because we saw opportunities where others saw obstacles.” Today, the company employs more than 400 people.

Tübingen, Germany-based Curevac’s pipeline contains lead candidates CV8102, currently in a Phase 1 trial for solid tumors, and CV7202, currently in a Phase 1 trial for potential vaccination against rabies. The company is also advancing its mRNA vaccine program against coronavirus (SARS-CoV-2), for which it initiated a Phase 1 trial in healthy volunteers in June 2020, with results expected in the 4Q20.

The company booked $20 million in revenue for the 12 months ended March 31, 2020.

In June, the German government disclosed plans to invest approximately $338.5 million in the company for a 23% stake. The purpose is to further aid the development of the company’s COVID-19 vaccine program.

Earlier this month, Curevac and GlaxoSmithKline plc announced the signing of a strategic collaboration agreement for the research, development, manufacturing and commercialisation of up to five mRNA-based vaccines and monoclonal antibodies (mAbs) targeting infectious disease pathogens. The collaboration complements GSK’s existing mRNA capabilities with CureVac’s integrated mRNA platform

Image source: CureVac

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IPO: Curevac’s mRNA Play For Cures was last modified: August 4th, 2020 by Simons Chase