Biotech Values

[DewDiligence]

GSK acquires CVAC’s COVID/flu vaccine programs_for $432M—(€400M)—up-front cash and as much as $1.1B (€1.05B) in regulatory and sales milestones plus royalties on sales:

https://finance.yahoo.com/news/gsk-curevac-restructure-collaboration-licensing-064000235.html

Since 2020, GSK and CureVac have worked together to develop mRNA vaccines for infectious diseases (#msg-161460910). Through this collaboration, GSK and CureVac currently have vaccine candidates for seasonal influenza and COVID-19 in Phase 2 and avian influenza in Phase 1 clinical development. All candidates are based on CureVac's proprietary second-generation mRNA backbone. Data generated to date for these candidate vaccines are promising and demonstrate their potential to be best-in-class new vaccines.

Under the terms of the new agreement, GSK will assume full control of developing and manufacturing these candidate vaccines. GSK will have worldwide rights to commercialise the candidate vaccines.

Concurrently with the above news, CVAC announced a 30% workforce reduction and a narrowed drug-development focus (https://finance.yahoo.com/news/curevac-initiates-strategic-restructuring-align-064000990.html ).