Curevac
CureVac
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legal form | naamloze vennootschap (NV) |
ISIN | NL0015436031 |
founding | 2000 |
Seat |
Tubingen , Germany![]() |
management | Franz-Werner Haas |
Number of employees | 470 |
sales | 17.4 million euros (2019) |
Branch | Biopharmacy , biotechnology |
Website | curevac.com |
Curevac NV ( proper spelling CureVac ) is a listed biopharmaceutical company with legal headquarters in the Netherlands and headquarters in Tübingen , which specializes in the research and development of drugs based on the messenger RNA (mRNA).
history
In 2000, Curevac was founded at the University of Tübingen from the working groups of Hans-Georg Rsameee and Günther Jung . In 2003 the company moved to the Biotechnology Center in Tübingen with 18 employees . In the same year, a cancer patient was treated directly with mRNA for the first time in the world in Tübingen. In 2006, Curevac received approval for the first GMP production facility . Since 2013, Curevac has organized the International mRNA Health Conference in Tübingen every year . In 2015, together with the Museum of the University of Tübingen , Curevac opened a permanent exhibition in the Tübingen castle laboratory .
In May 2018, founder and CEO Ingmar Hoerr switched to chairing the supervisory board. Daniel L. Menichella , previously Chief Business Officer and Chief Executive Officer of the US subsidiary Curevac, has been appointed as the new CEO.
In February 2019, the international vaccine alliance CEPI and Curevac announced a US $ 34 million agreement to further develop Curevac's vaccination platform. The platform is intended to enable a rapid supply of RNA vaccines against known diseases such as Lassa fever , yellow fever and rabies .
At the end of January 2020, Curevac received further funding of up to 8.3 million euros from CEPI for accelerated vaccine development and production as well as for clinical studies against the coronavirus SARS-CoV-2 , which appeared for the first time shortly afterwards and which will soon be distributed worldwide COVID-19 pandemic . Experiments on mice began at the beginning of March 2020. From the initial seven variants, four and then two were pursued. The two variants are in production and should be subjected to clinical tests from early summer in order to find the variant with the best effect (as of March 20, 2020). In mid-June 2020, the Paul Ehrlich Institute approved the clinical trial (phase 1) of a vaccine candidate in a total of 168 healthy adult test subjects, 144 of whom will be vaccinated. There should be a gradual increase in the dose to determine the general safety and tolerability as well as a suitable dose for the generation of an antibody immune response specifically directed against SARS-CoV-2. An approval process is then pending. A widely available vaccine could be available in early 2021 (as of April 2020). The company is working on further developing the production capacity in order to be able to manufacture billions of vaccine doses if necessary.
Due to the COVID-19 pandemic , the then CEO Menichella met with US President Donald Trump on March 2, 2020 . Trump tried to secure the rights to the vaccine exclusively for the USA and to poach scientific staff. On March 11, 2020, Hoerr took over the chairmanship again. On March 15, 2020, Curevac announced that a potential SARS-CoV-2 vaccine would not be available to one nation, but to the whole world. Majority shareholder Dietmar Hopp said: “For me it goes without saying, it cannot be that a German company develops the vaccine and that it is used exclusively in the USA. That wasn't an option for me. ”He added that he had not spoken to Trump personally. On March 16, 2020, Curevac denied the press reports, stating that Curevac had not received an offer from the US government or related agencies either before, during or after the White House task force meeting. Also on March 16, the company announced that CEO Hoerr, who had been back in office a few days ago, was absent for an indefinite period due to illness and could therefore not perform his role.
Financing, stock market and shareholders
Until August 2020
Curevac was financed from 2006 to 2014 by Dievini Hopp BioTech Holding, a biotech venture capital company of SAP founder Dietmar Hopp, including 80 million euros in September 2012. Curevac's capital grew to a total of 145 as a result of this investment Million Euro; At the time, Hopp held around 90% of the shares in Curevac. In February 2015 the Bill & Melinda Gates Foundation was won as a new investor and in October 2015 a private placement with five other investors (Baillie Gifford, Chartwave Ltd., Coppel family, Northview and Sigma Group) and a volume of 98.7 million Euro carried out. The Bill & Melinda Gates Foundation invested 46 million euros in Curevac. Dievini Hopp BioTech Holding also committed itself to a further payment of EUR 21 million. In 2016, in the course of a further capital increase, two new investors, the Baden-Württemberg investment bank L-Bank and the Baden-Württemberg pension institution for doctors, dentists and veterinarians , were acquired, who invested a total of 26.5 million euros. In 2017 there was another capital increase involving the US pharmaceutical company Eli Lilly & Co. in the amount of 45.0 million euros. Since it was founded, Curevac had raised over 360 million euros by issuing shares until the end of 2018.
In June 2020, the federal government took a 23% stake in Curevac through the state-owned development bank KfW for 300 million euros. At the time, the company was valued at around EUR 1.3 billion. In July 2020, the British pharmaceutical company GlaxoSmithKline (GSK) invested almost 10% in Curevac with 150 million euros as part of a cooperation to research, develop, produce and market up to five mRNA-based vaccines and monoclonal antibodies (mAbs); GSK also makes a one-off payment of € 120 million and a refundable payment of € 30 million. The latter is due as soon as the CureVac industrial production plant currently under construction in Germany has received its GMP (Good Manufacturing Practice) certification from the responsible authorities. CureVac is also entitled to payments for development and approval milestones of up to 320 million euros and for commercial milestones of up to 380 million euros. In addition, CureVac receives tiered royalties on product sales.
IPO in August 2020
On August 14, 2020, the company went public on the American technology exchange NASDAQ . With an issue price of $ 16 and gross issue proceeds of $ 245.3 million, the company was valued at approximately $ 2.3 billion. The registration of 15,333,332 million shares for trading on the stock exchange was declared effective by the American registration authority SEC on August 13, 2020 under the ticker CVAC. The company's share capital is divided into 177,968,203 ordinary shares. The stock rose 250% to $ 55.9 on the first day of trading.
As part of the IPO, CureVac AG becomes a 100% subsidiary of the Dutch holding company, while the current shareholders of the AG also became shareholders of the newly founded private Dutch company CureVac BV with an exchange ratio of 1: 133.0778. This private company was transformed into a Dutch public limited company, CureVac NV. At the same time as the IPO, Dievini Hopp BioTech Holding signed a capital increase of 100 million euros. After the IPO and the additional financing by Dietmar Hopp, the following shareholders participated in the share capital: Dievini Hopp BioTech Holding GmbH & Co. KG (49.5%), Kreditanstalt für Wiederaufbau (17.0%), Glaxo Group Ltd. (8.5%), board members and supervisory boards together (1.1%).
Locations
In addition to the headquarters in Tübingen, Curevac has a location in Frankfurt am Main, where clinical development is being carried out. A US subsidiary has been active in Boston since 2015 .
Research areas
Curevac is active in three research areas.
In oncology , Curevac is concentrating on new therapeutic approaches for the treatment of solid tumors through the use of sequence-optimized mRNA (“RNActive”). For the first time worldwide, phase I / IIa studies in several countries (Italy, Switzerland, Germany and the USA) treated patients with mRNA in the indications of prostate cancer and lung cancer . For patients with castration-resistant prostate cancer, a randomized clinical phase IIb study was started in March 2013 with up to 200 patients in several European countries. However, the study showed that the prostate cancer vaccine did not have a better patient survival rate than the placebo group . In September 2014, Boehringer Ingelheim and Curevac agreed on a collaboration to further develop the active ingredient CV9202 (BI 1361849), a therapeutic vaccine from Curevac for the treatment of non-small cell lung cancer (NSCLC).
Curevac develops prophylactic vaccines against infections based on mRNA . Here they cooperate with Sanofi-Pasteur ( Sanofi-Aventis Group), one of the world market leaders for vaccines. In addition, Curevac is developing an immunostimulant ( adjuvant ) based on RNA to enhance the effectiveness of prophylactic and therapeutic vaccines. In November 2012, Curevac and the Friedrich Loeffler Institute published data on an mRNA-based flu vaccine in the journal Nature Biotechnology . This vaccine could provide lifelong protection; it has yet to be tested in extensive clinical studies. In October 2013, Curevac and the pharmaceutical company Johnson & Johnson entered into a cooperation to develop a flu vaccine.
In the area of molecular therapies, Curevac works with Arcturus Therapeutics , among others , to develop active ingredients against rare diseases such as OTC deficiency (deficit in ornithine transcarbamylase ).
Awards
In 2007, Curevac received the innovation award of the state of Baden-Württemberg and was also the winner of the nationwide Weconomy competition, which is awarded jointly by the Handelsblatt and the Wissensfabrik . Curevac, together with its research partner NMI, also received the nationwide cooperation award from VBU DECHEMA for innovative approaches to immunotherapy .
On March 10, 2014, Curevac received the European Commission's innovation prize, which was awarded for the first time and worth 2 million euros, for a new vaccination technology based on mRNA.
Web links
- Curevac website
- International mRNA Health Conference website
- Website of the Tübingen Castle Laboratory
- tagesspiegel.de May 26, 2020: How a supposed laboratory breakdown turned into hope in the pandemic
Individual evidence
- ↑ a b c d SEC documents (" Prospectus ") dated August 13, 2020 for the IPO on NASDAQ (English), accessed on August 15, 2020
- ↑ Helga Einecke: pioneers of biotechnology. In: sueddeutsche.de . September 2, 2015, accessed October 13, 2018 .
- ↑ Successful cooperation: Curevac and University of Tübingen - BioRegio STERN - thinking ahead. In: bioregio-stern.de. November 6, 2006, accessed June 11, 2020 .
- ↑ Martina Behm: Got a million? In: zeit.de . May 27, 2004, accessed February 11, 2015 .
- ↑ Hope for mRNA vaccines despite damper - Health Industry BW. Retrieved March 15, 2020 .
- ↑ Curevac AG expands mRNA drug production at the Tübingen site | BioRegio STERN | Thinking business forward. Retrieved March 15, 2020 .
- ↑ Home. Retrieved March 15, 2020 (American English).
- ↑ Castle kitchen, laboratory and now a museum. Retrieved March 15, 2020 .
- ↑ Change at the top of Curevac. Press release Curevac, May 8, 2018, accessed on March 18, 2020
- ↑ CEPI awards Curevac a $ 34 million contract to further develop The RNA Printer ™. In: curevac.com. February 27, 2019, accessed March 15, 2020 .
- ↑ Svenja Jambo: Curevac and CEPI are expanding cooperation to develop a vaccine against the coronavirus nCoV-2019. In: bmbf.de. January 31, 2020, accessed March 15, 2020 .
- ↑ a b Michael Barbaro, Katrin Bennhold: The Race for a Vaccine. In: nytimes.com. The New York Times, April 1, 2020, accessed April 2, 2020 .
- ^ A b Annika Jahn, Celia Knott: Corona virus: fight for the vaccine | To the point extra. Südwestrundfunk, March 20, 2020, accessed on March 21, 2020 .
- ↑ Another clinical trial of a COVID-19 vaccine approved in Germany. In: pei.de. Paul Ehrlich Institute , June 17, 2020, accessed on June 17, 2020 .
- ^ Andreas Geldner: Vaccine cooperation with China . In: Stuttgarter Nachrichten . tape 75 , March 17, 2020 ( online ).
- ↑ Markus Bär: The race for the corona vaccine is in full swing. In: Main-Post . March 6, 2020, accessed March 15, 2020 .
- ↑ Jan Dams: Corona: USA wants access to German vaccine company. In: The world . March 14, 2020, accessed March 15, 2020 .
- ↑ Donald Trump's test for coronavirus was negative. In: Spiegel Online . March 15, 2020, accessed March 15, 2020 .
- ↑ Curevac AG: Change in the board of Curevac: Company founder Ingmar Hoerr succeeds CEO Daniel Menichella. In: finanznachrichten.de. March 11, 2020, accessed March 15, 2020 .
- ↑ Germany tries to stop US from luring away firm seeking coronavirus vaccine. March 15, 2020, accessed on March 15, 2020 .
- ↑ German corona vaccine not only for the USA - DW - 03/15/2020. In: dw.com. Retrieved March 15, 2020 .
- ↑ Elisabeth Dostert: Curevac owner Hopp comments on the Trump offer. In: sueddeutsche.de . March 16, 2020, accessed March 16, 2020 .
- ↑ @CureVacAG: CureVac. In: twitter.com. March 16, 2020, accessed March 17, 2020 .
- ^ Susanne Preuss: Company's denial: "Curevac has not received an offer from the US government". In: www.faz.net. March 17, 2020, accessed March 17, 2020 .
- ↑ https://www.curevac.com/de/news/curevac-announces-leadership-update
- ↑ Maike Telgheder: Dietmar Hopp is putting 80 million euros into Curevac. In: Handelsblatt . September 18, 2012, accessed February 11, 2015 .
- ↑ Vaccine manufacturer should go public. In: handelsblatt.com . March 6, 2015, accessed August 11, 2015 .
- ↑ The Bill & Melinda Gates Foundation and CureVac Collaborate to Accelerate the Development of Transformative Vaccine Technology , Bill & Melinda Gates Foundation press release, March 5, 2015, accessed June 23, 2020
- ↑ Group annual report as of December 31, 2018; accessed on March 15, 2020 at www.unternehmensregister.de
- ↑ a b DER SPIEGEL: Federal government participates in vaccine manufacturer CureVac - DER SPIEGEL - Wirtschaft. Retrieved June 15, 2020 .
- ↑ Curvac: GSK and CureVac Announce Strategic mRNA Technology Partnership , Press Release July 20, 2020
- ↑ https://www.curevac.com/2020/08/18/curevac-kuendigt-den-schluss-des-ersten-oeffialen-zeichangebots-an/
- ↑ Frankfurter Allgemeine Zeitung: Curevac occupies 213 million US dollars. Retrieved August 14, 2020 .
- ↑ thestreet.com: IPO Launch: CureVac Proposes $ 200 Million IPO Terms. Retrieved on August 14, 2020 .
- ↑ Contact / CureVac. In: curevac.com. Retrieved March 27, 2020 .
- ↑ https://labiotech.eu/curevac-the-mrna-therapy-leader-is-invading-modernas-homeland/
- ↑ Ingmar Hoerr: More Than a Messenger: A New Class of Drugs - mRNA-Based Therapeutics. In: Genetic Engineering & Biotechnology News.
- ↑ First results of the Curevac study in lung cancer. In: tagblatt.de. November 8, 2011, accessed February 11, 2015 .
- ↑ CureVac begins clinical phase 2b study of its mRNA-based cancer vaccine in patients with castration-resistant prostate cancer (PDF file; 89 kB) In: curevac.com of March 27, 2013.
- ↑ Curevac's disappointment. In: transkript.de. January 12, 2017, accessed July 12, 2020 .
- ↑ Press release: Boehringer Ingelheim and Curevac are jointly developing immunotherapy against lung cancer. oncotrends.de, accessed on March 4, 2020
- ↑ Sanofi Pasteur marshals biotech forces behind € 150M vax program. In: fiercebiotech.com. November 15, 2011, accessed February 11, 2015 .
- ^ New vaccine may give lifelong protection from flu - health - 25 November 2012 - New Scientist. In: newscientist.com. November 25, 2012, accessed February 11, 2015 .
- ↑ Curevac's disappointment. In: transkript.de. January 12, 2017, accessed July 12, 2020 .
- ^ German research points way to faster flu vaccines. In: uk.reuters.com. November 25, 2012, accessed February 11, 2015 .
- ↑ Johnson & Johnson bites into Curevac. In: transkript.de. October 4, 2013, archived from the original on December 25, 2014 ; accessed on February 11, 2015 .
- ↑ BIOCOM AG: Curevac relies on lipids. Retrieved March 15, 2020 .
- ↑ Curevac GmbH receives the innovation award of the state of Baden-Württemberg on bionity.com
- ↑ 2007–2011 - Excellent young companies. ( Memento from February 23, 2016 in the Internet Archive ) on wissensfabrik-deutschland.de, accessed on February 23, 2016, p. 11.
- ↑ Award for biotechnology company Curevac ( Memento from September 23, 2015 in the Internet Archive ), press information, dechema.de, May 31, 2007.
- ↑ European Commission: German company receives the EUR 2 million EU prize for innovative vaccination technology , press release of March 10, 2014.