GSK, CureVac in $1.1-Bn Pact for mRNA Vaccines and mAbsBy
GlaxoSmithKline (GSK) and CureVac, a Tubingen, Germany-based clinical-stage biopharmaceutical company developing a messenger ribonucleic acid (mRNA) therapeutics, have signed a strategic collaboration agreement, in a deal worth up to £866 million ($1.1 billion), for the research, development, manufacturing and commercialization of up to five mRNA-based vaccines and monoclonal antibodies (mAbs) targeting infectious disease pathogens.
Under the terms of the deal, GSK will make an equity investment in CureVac of £130 million ($166 million), representing close to a 10% stake, an upfront cash payment of £104 million ($133 million) and a one-time reimbursable payment of £26m ($33 million) for manufacturing capacity reservation, upon certification of CureVac’s commercial-scale manufacturing facility currently under construction in Germany. CureVac will be eligible to receive development and regulatory milestone payments of up to £277 million ($353 million), commercial milestone payments of up to £329 million ($419 million), and tiered royalties on product sales.
GSK will fund R&D activities at CureVac related to the development projects covered by the collaboration. CureVac will be responsible for the preclinical and clinical development through Phase I trials of these projects, after which GSK will be responsible for further development and commercialization. CureVac will be responsible for the GMP manufacturing of the product candidates, including for commercialization and will retain commercialization rights for selected countries for all product candidates.
CureVac’s existing COVID-19 mRNA and rabies vaccines research programs are not included in the collaboration.