British pharmaceutical giant GSK (GSK.L) has announced the acquisition of CureVac\u2019s assets related to COVID-19 and influenza vaccine development, a move that bolsters GSK\u2019s messenger RNA (mRNA) capabilities while providing CureVac with a crucial financial boost.<\/p>\n
In a strategic deal finalized on Wednesday, GSK will pay CureVac \u20ac400 million ($430 million) upfront, with additional potential payments of up to \u20ac1.05 billion contingent on achieving specific milestones. This agreement not only strengthens GSK\u2019s position as a leading vaccine manufacturer but also supports CureVac\u2019s transition towards new focuses.<\/p>\n
CureVac\u2019s shares surged by 24% following the announcement, reaching a three-week high at 07:39 GMT.<\/p>\n
Under the terms of the deal, GSK will assume control of CureVac\u2019s advanced mRNA vaccine projects aimed at combating seasonal influenza, avian flu, and COVID-19. This includes vaccines currently in phase II clinical trials for flu and COVID-19, as well as a phase I trial for avian flu.<\/p>\n
As part of its strategic shift, CureVac will reduce its workforce by approximately 30%, including 150 positions previously announced in April. This restructuring reflects the company\u2019s pivot towards mRNA-based cancer therapies and other early-stage projects. The funding from GSK extends CureVac\u2019s financial runway until 2028, securing its path forward as it refocuses on its new goals.<\/p>\n
This acquisition aligns with GSK CEO Emma Walmsley\u2019s strategy to strengthen the company\u2019s vaccine portfolio and address future challenges posed by patent expiries and declining revenues from existing blockbuster medications.<\/p>\n
The partnership between GSK and CureVac, which began in 2020 amid the COVID-19 pandemic, was originally aimed at developing mRNA vaccines for infectious diseases. Walmsley\u2019s leadership reflects a commitment to advancing vaccine research as a cornerstone of GSK\u2019s future growth strategy.<\/p>\n
Despite the asset acquisition, GSK\u2019s 7% stake in CureVac remains unaffected by the licensing agreement, a GSK spokesperson confirmed.<\/p>\n
This latest move underscores GSK\u2019s focus on expanding its vaccine offerings and supporting innovative therapies, as the company continues to address the evolving landscape of global health challenges.<\/p>\n","protected":false},"excerpt":{"rendered":"
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