BioNTech Consolidates German mRNA Sector with CureVac Acquisition Finalized

BioNTech has completed its takeover of CureVac, a move that solidifies its commanding position within Germany’s mRNA therapeutics landscape. By securing nearly 87% of CureVac’s shares, the Mainz-based firm is now positioned to fully integrate its former competitor. The transaction marks a pivotal strategic shift for the company as it moves beyond its pandemic-era foundations.

Strategic Rationale and Immediate Benefits

The acquisition, finalized after the acceptance period concluded at 06:01 CET on December 18, 2025, eliminates a direct rival while granting BioNTech access to a suite of valuable assets. These include CureVac’s proprietary mRNA design platforms, alternative lipid nanoparticle formulations, and additional manufacturing capacity. BioNTech plans to channel these resources directly into its oncology pipeline, which currently holds the highest strategic priority for the company.

A total of 195.3 million CureVac shares were tendered, representing 86.75% of the total. This majority stake provides BioNTech with the control needed to proceed with the next phase of corporate integration.

Financial Muscle and Clinical Momentum

The deal’s completion occurs alongside a period of significant clinical progress for BioNTech. In early December, the company presented encouraging Phase 2 data for its bispecific antibody candidate, pumitamig (BNT327), developed in collaboration with Bristol Myers Squibb. Concurrently, it reported survival data for its investigational therapy, gotistobart, in non-small cell lung cancer.

Should investors sell immediately? Or is it worth buying BioNTech?

With a substantial war chest of €16.7 billion in liquid funds as of September 30, 2025, BioNTech possesses the financial strength to execute a swift and efficient integration. The absorption of CureVac underscores a clear corporate intention to leverage the market position established during the COVID-19 pandemic and apply it to other therapeutic areas, particularly oncology.

Path Forward for Remaining Shareholders

For the minority shareholders holding the remaining 13.25% of CureVac equity, BioNTech has outlined the next steps. A squeeze-out procedure to compulsorily acquire the outstanding shares is scheduled for January 2026. Following this, CureVac’s listings on the Nasdaq and other stock exchanges will be terminated, effectively ending its run as an independent publicly traded entity.

Market observers are now focusing on the pace and efficacy of the post-merger integration. A key metric for success will be the speed at which BioNTech can repurpose CureVac’s production infrastructure to support its own oncology clinical trials. Initial indications are expected to emerge in BioNTech’s quarterly financial reports throughout 2026.