09:14 AM EDT, 06/12/2025 (MT Newswires) -- BioNTech (BNTX) on Thursday agreed to acquire CureVac ( CVAC ) in an all-stock deal with an equity value of about $1.25 billion as the German biotechnology company looks to strengthen its oncology portfolio.

Under the terms, BioNTech will exchange roughly $5.46 worth of its American depositary shares for each CureVac ( CVAC ) share, the companies said in a joint statement. The exchange offer represents a 55% premium to CureVac's ( CVAC ) three-month volume-weighted average price as of Wednesday.

CureVac's ( CVAC ) Nasdaq-listed stock jumped 31% in the most recent premarket activity, while BioNTech was slightly in the green.

The deal, which requires clearance from regulators, as well as approval from CureVac's ( CVAC ) shareholders, is expected to complete this year. Certain investors holding a 36.76% stake in CureVac ( CVAC ) have agreed to tender their shares and vote in favor of the transaction, the companies said.

CureVac ( CVAC ) shareholders are expected to own between 4% and 6% of BioNTech once the deal completes. The company's operating subsidiary will become a unit of BioNTech, which will also integrate CureVac's ( CVAC ) research and manufacturing site in Tubingen.

"This transaction is another building block in BioNTech's oncology strategy," Chief Executive Ugur Sahin said in the statement. "We intend to bring together complementary capabilities and leverage technologies with the goal of advancing the development of innovative and transformative cancer treatments and establishing new standards of care for various types of cancer in the coming years."

BioNTech anticipates the transaction to strengthen the research, development, manufacturing and commercialization of its messenger ribonucleic acid-based therapeutic candidates for cancer. The acquisition represents the next phase of its oncology strategy, focusing on two pan-tumor programs and mRNA-based cancer candidates, the German drugmaker said.

In May, CureVac ( CVAC ) reported first-quarter revenue of 900,000 euros ($1 million), down from 12.4 million euros a year ago. The company also posted a pretax loss of 51.7 million euros, compared with a 69.9 million euro loss in the prior-year quarter.

"For more than two decades, both companies have operated with related ambitions, often tackling challenges from different angles," CureVac ( CVAC ) CEO Alexander Zehnder said. "This transaction aims at combining complementary scientific capabilities, proprietary technologies, and manufacturing expertise in the mRNA field under one roof."