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IPO in sight: Corona vaccine developer CureVac sets course for US IPO | message


The Tübingen company submitted a corresponding application to the US stock exchange regulator SEC on Friday. According to the preliminary securities prospectus, the shares are to be listed under the ticker symbol “CVAC” on the New York technology exchange NASDAQ. There was no information on the concrete schedule and volume of the IPO. So far, only a wildcard amount of $ 100 million has been entered as issue proceeds.

Only on Tuesday, CureVac announced that it had raised the equivalent of another 110 million euros from investors. In addition to the State Fund of Qatar, a group of other existing and new donors participated in the financing round. Including previous federal investments of 300 million euros and the pharmaceutical giant GlaxoSmithKline of 150 million, the total volume of the equity investments now amounts to 560 million euros. CureVac, like many other companies, is researching the development of an urgently needed corona vaccine.

In early March, the US President invited Donald Trump the then CureVac boss, Dan Menichella, and other pharmaceutical representatives to the White House to find out more about the vaccine search. Shortly afterwards there was a stir around the Tübingen company. According to media reports, Trump tried to secure the vaccine exclusively for his country and offered the company a large amount, which caused outrage. However, CureVac’s main investor, SAP founder Dietmar Hopp, whose investment company holds a majority stake in the company, vehemently rejected both a sale and an exclusive production for Trump.

/ hbr / DP / he


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Image sources: Matthias Hangst / Getty Images

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