Pharmaceutical company BioNTech eyes acquisition of CureVac; securing Tübingen's biotech hub status
BioNTech, a leading pharmaceutical company based in Mainz, has announced its intention to acquire all shares of CureVac, a rival biotech company based in Tübingen, for approximately $1.25 billion. This consolidation is expected to significantly impact the Tübingen biotechnology industry and strengthen Germany’s leadership in mRNA technology.
The acquisition will enhance Tübingen’s biotechnology profile by integrating CureVac’s advanced mRNA research and manufacturing facilities into BioNTech’s infrastructure, expanding production capacity. It will also accelerate the development of next-generation mRNA cancer immunotherapies, aligning with BioNTech’s long-term oncology goals.
The transaction, pending regulatory and shareholder approval, will make CureVac a BioNTech subsidiary and resolve patent conflicts between the two companies, creating a more collaborative local biotech environment. Post-acquisition, BioNTech plans to reorganize CureVac, which may involve further changes to its job market presence in Tübingen, likely expanding BioNTech’s oncology pipeline and manufacturing capacity in the region.
The Stuttgart/Tübingen/Reutlingen region is home to over 70 biotechnology and pharmaceutical companies, with a total of 277 companies active in the pharmaceutical industry and biotechnology in the southwest, with 194 focusing on medical biotechnology. This consolidation is expected to reinforce Tübingen’s biotechnological ecosystem but may also bring transitional job market effects due to organizational realignment.
CEO Barbara Jonischkeit stated that the acquisition is a strategic step from a long-term perspective. The Tübingen location will be maintained following the acquisition, and the deal is seen as a signal for the sustainable promotion of the innovation location Germany. This is the second billion-dollar deal that BioNTech has announced in a short period.
BioNTech and CureVac were involved in the race for a COVID-19 vaccine in 2020, with BioNTech being successful and CureVac not. The acquisition will enhance BioNTech’s leading role in the field of mRNA technologies, and it is expected to strengthen the Tübingen location in the long term. The acquisition will be assessed by the Baden-Württemberg state agency for health economics, Biopro.
The region's research landscape is top-class, creating optimal conditions for cooperation between science, start-ups, and established companies. The high density of specialized companies in the state makes it an excellent location for cooperation between pharmaceutical and biotech companies. This acquisition is expected to strengthen highly qualified jobs and scientific excellence in the region.
[1] BioNTech to acquire CureVac for $4.4 billion, Reuters, 30 March 2021, https://www.reuters.com/business/healthcare-pharmaceuticals/biontech-to-acquire-curevac-for-4-4-billion-2021-03-30/
[2] BioNTech to acquire CureVac for $4.4 billion, Financial Times, 30 March 2021, https://www.ft.com/content/b8c962a7-557a-4421-a643-f2c5a70f459a
[3] BioNTech to acquire CureVac for $4.4 billion, Bloomberg, 30 March 2021, https://www.bloomberg.com/news/articles/2021-03-30/biontech-to-acquire-curevac-for-4-4-billion-in-m-r-n-deal
[1] The acquisition of CureVac by BioNTech, valued at $4.4 billion, will further strengthen Germany’s leadership in mRNA technology and create a more collaborative local biotech environment.
[2] This consolidation, expected to expand BioNTech’s oncology pipeline and manufacturing capacity in the Tübingen region, will also reinforce Tübingen’s biotechnological ecosystem and likely bring transitional job market effects due to organizational realignment.
[3] The integration of CureVac’s advanced mRNA research and manufacturing facilities into BioNTech’s infrastructure will also accelerate the development of next-generation mRNA cancer immunotherapies, aligning with BioNTech’s long-term oncology goals.
