CureVac, a German clinical stage biopharmaceutical company developing a new class of therapies and vaccines based on mRNA, today announced the completion of a $140 million financing round with its main investor, dievini Hopp BioTech Holding.
CureVac will use the proceeds mainly to advance the development of its two lead RNActive cancer vaccines against prostate cancer and non-small cell lung cancer (NSCLC). CureVac will also intensify the development of its prophylactic vaccines and adjuvants for infectious diseases. This financing round is one of the largest for a private European biotech company.
"We have continuously seen strong and consistent data from CureVac's RNActive and RNAdjuvant programs in the past," said Friedrich von Bohlen, chairman of the CureVac board of directors and managing partner at dievini Hopp Biotech. "CureVac's RNA-technology and products have the potential to create a novel class of therapeutics for the treatment of many different diseases. Additionally, based on the novel therapeutic mechanism of mRNA vaccines, we see strong market potential which we expect will materialize through continued pipeline development and collaborations in the industry."
Ingmar Hoerr, CEO of CureVac, said, "Our technology is based on a major new understanding of the medical potential of mRNA, and our novel mRNA vaccines and RNA-based adjuvants may transform the treatment of many debilitating diseases, including prostate and lung cancer, as well as the prophylaxis of many infectious diseases. This financing will provide us with sufficient capital to advance our ongoing programs in oncology and infectious diseases over the next years."
To date, the company has raised approximately $188 million in equity financing. CureVac previously announced its collaboration with DARPA, Sanofi Pasteur and In-Cell-Art to develop prophylactic and therapeutic vaccines for infectious diseases.