GSK To Make Equity Investment In CureVac - Quick Facts

(RTTNews) - GlaxoSmithKline plc (GSK, GSK.L) and CureVac have signed a strategic collaboration agreement for the research, development, manufacturing and commercialisation of up to five mRNA-based vaccines and monoclonal antibodies. GlaxoSmithKline noted that the new collaboration complements the company's existing mRNA capabilities with CureVac's integrated mRNA platform.

GSK will fund R&D activities at CureVac related to the development projects covered by the collaboration. GSK will make an equity investment in CureVac of 130 million pounds, representing close to a 10% stake, an upfront cash payment of 104 million pounds and a one-time reimbursable payment of 26 million pounds for manufacturing capacity reservation, upon certification of CureVac's commercial scale manufacturing facility currently under construction in Germany.

CureVac will be eligible to receive development and regulatory milestone payments of up to 277 million pounds, commercial milestone payments of up to 329 million pounds and tiered royalties on product sales.

CureVac is headquartered in Tübingen, Germany with sites in Frankfurt and Boston, USA. Its mRNA technology platform has shown potential in the development and production of mRNA based vaccines and therapeutics. CureVac's existing COVID-19 mRNA and rabies vaccines research programmes are not included in the collaboration.