The era of CureVac as an independent, publicly traded company has drawn to a close. BioNTech SE has successfully completed its takeover of the Tübingen-based mRNA specialist, marking the end of a 25-year history on the stock exchange for the pioneering firm. The path is now clear for the remaining shareholders to be bought out in a mandatory process early next year.
Overwhelming Shareholder Approval Secures Deal
The acquisition received near-unanimous support from CureVac’s investors. At an extraordinary general meeting held on November 25, 2025, more than 99 percent of voting shares were cast in favor of the transaction. This decisive vote followed clearance from the German Federal Cartel Office (Bundeskartellamt), which granted its approval just one day prior.
The subsequent acceptance period for BioNTech’s offer concluded on December 18, 2025. The final tally revealed strong participation:
* A total of 195.3 million CureVac shares were tendered by shareholders.
* This figure represents 86.75 percent of all outstanding equity.
* The exchange ratio was set at 0.05363 BioNTech American Depositary Shares (ADS) for each CureVac share.
* The entire transaction carries an approximate value of $1.25 billion.
With the threshold for a compulsory acquisition surpassed, BioNTech has initiated a squeeze-out procedure for the remaining 13.25 percent of shares. This process is scheduled for January 2026, after which CureVac’s stock will be delisted from the NASDAQ.
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Leadership and Strategic Integration
A complete change in the executive suite has accompanied the corporate merger. CureVac’s previous management board has resigned, with BioNTech appointing its own leaders to steer the newly acquired subsidiary. The company will now be headed by Prof. Ugur Sahin, Sierk Poetting, and Ramón Zapata-Gomez. Key assets, including CureVac’s RNA printer platform and its research facilities in Tübingen, will be maintained.
The strategic rationale for BioNTech centers on consolidating and expanding its footprint in the mRNA technology landscape. By integrating CureVac, the Mainz-based company gains valuable expertise in mRNA design, formulation technologies, and manufacturing capabilities. This move is primarily aimed at accelerating BioNTech’s oncology strategy, which focuses on developing mRNA-based cancer immunotherapies and a bispecific antibody known as Pumitamig. The latter is being developed in collaboration with Bristol Myers Squibb.
Trading activity in CureVac shares has diminished significantly, with the price now solely reflecting the terms of the acquisition agreement. For investors, the focus shifts to the administrative steps leading to the final delisting. The consolidation of these two pioneering German biotech firms is now complete.
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