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GSK Acquires Full Rights to CureVac's mRNA Vaccines for Up to €1.8 Billion
Jul 3, 2024, 10:27 AM
British pharmaceutical company GSK has restructured its collaboration with German biotech firm CureVac, acquiring full rights to develop mRNA vaccines for influenza and COVID-19. The deal, which is valued at up to €1.45 billion, includes €400 million upfront and up to €1.05 billion in milestone payments, along with additional royalties. This agreement will enhance GSK's mRNA vaccine capabilities and extend CureVac's financial runway to 2028. As part of the restructuring, CureVac will cut 30% of its workforce to focus on high-value mRNA projects. The vaccines are currently in Phase 2 trials for seasonal flu and COVID-19, and Phase 1 trials for avian flu. The total deal value could reach up to €1.8 billion, and GSK is also paying an additional $429 million upfront. The agreement was announced on Wednesday.
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