Berlin [Germany], July 4: German biotech firm CureVac said on Wednesday that it is selling the rights to its mRNA influenza and COVID-19 vaccines to British pharmaceutical group GSK for up to 1.45 billion euros (1.56 billion U.S. dollars) as part of a group restructuring.
After an upfront payment of 400 million euros, GSK will take control of the development, manufacturing and global commercialization of the respective vaccine programs, including their combination, according to a company statement.
CureVac plans to focus on high-value mRNA projects in oncology and other selected areas of "substantial unmet medical need." As part of the process, the company's total workforce is to be reduced by 30 percent.
Unlike BioNTech, the German company did not receive regulatory approval for its COVID-19 vaccine during the pandemic. Its vaccine candidate in collaboration with GSK currently is in Phase 2 trials. (1 euro = 1.08 U.S. dollar)
Source: Xinhua