07:25 AM EDT, 06/12/2025 (MT Newswires) -- BioNTech (BNTX) has agreed to acquire clinical-stage biotech company CureVac ( CVAC ) in an all-stock deal, the companies said Thursday.

Under the terms, each CureVac ( CVAC ) share will be exchanged for roughly $5.46 in BioNTech American depositary shares, resulting in a total implied equity value of about $1.25 billion for CureVac ( CVAC ), the companies said.

Upon the deal's completion, CureVac ( CVAC ) shareholders are likely to own between 4% and 6% of BioNTech, the companies said, adding that CureVac's ( CVAC ) operating unit will become a subsidiary of BioNTech.

The companies expect the deal to close later this year.

CureVac ( CVAC ) shares were up nearly 30% in recent premarket activity, while BioNTech rose 1.1%.