GSK Buys Full Rights To Investigational Covid-19 And Influenza Vaccines From CureVac For Around $1.5B
Portfolio Pulse from Vandana Singh
GSK plc (NYSE:GSK) and CureVac N.V. (NASDAQ:CVAC) have restructured their collaboration into a new licensing agreement worth around $1.5 billion. GSK will assume full control of developing and manufacturing mRNA vaccines for COVID-19 and influenza, while CureVac will receive significant upfront and milestone payments. CureVac also announced a strategic restructuring to focus on oncology, including a 30% workforce reduction. The agreement extends CureVac's cash runway into 2028.
July 03, 2024 | 12:01 pm
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NEUTRAL IMPACT
CureVac's new agreement with GSK does not affect its ongoing patent litigation against BioNTech. This indicates that the legal dispute remains unresolved and could have future implications for both companies.
While the new agreement with GSK is significant, the ongoing patent litigation against BioNTech remains a separate issue. The outcome of this legal dispute could have future financial implications for BioNTech.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
NEUTRAL IMPACT
CureVac's new agreement with GSK does not affect its ongoing patent litigation against Pfizer. This indicates that the legal dispute remains unresolved and could have future implications for both companies.
While the new agreement with GSK is significant, the ongoing patent litigation against Pfizer remains a separate issue. The outcome of this legal dispute could have future financial implications for Pfizer.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
CureVac has restructured its collaboration with GSK, receiving up to $1.5 billion in payments and royalties. The company will focus on oncology projects and reduce its workforce by 30%, extending its cash runway into 2028.
The significant upfront and milestone payments from GSK provide CureVac with substantial financial resources. The strategic shift to focus on oncology and the workforce reduction are expected to streamline operations and reduce costs, positively impacting the company's financial health.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
GSK has restructured its collaboration with CureVac, taking full control of developing and manufacturing mRNA vaccines for COVID-19 and influenza. This move allows GSK to prioritize its mRNA development activities and commercialize these vaccines worldwide.
GSK's acquisition of full rights to the mRNA vaccines positions it to capitalize on the growing mRNA vaccine market. The upfront and milestone payments to CureVac indicate a significant investment, suggesting GSK's confidence in the potential success of these vaccines.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100