CureVac’s Market Exit: A Chapter Closes in the mRNA Race

The independent story of CureVac has reached its conclusion. The pioneering German mRNA firm, which launched a promising initial public offering in 2020, has now been fully absorbed by its former competitor, BioNTech. As of early January 2026, CureVac shares ceased to exist as a distinct equity.

The acquisition process was formally completed on January 6, 2026. On that date, BioNTech assumed all of CureVac's business operations. The corporate entity CureVac N.V., based in the Netherlands, merged with a specially established vehicle, CureVac Merger B.V. Trading of CureVac stock on the Nasdaq was suspended prior to market opening that day.

Subsequently, the official delisting occurred on January 16, 2026, a detail confirmed in the SEC filing Form 6-K.

Compensation for Shareholders

Former CureVac equity holders received BioNTech American Depositary Shares (ADS) as consideration. According to a BioNTech announcement from December 2025, the exchange ratio was set at 0.05363 BioNTech ADS for each CureVac share.

Investors who did not tender their shares during the offer period received the same compensation through a compulsory acquisition procedure, net of applicable Dutch dividend withholding tax.

Should investors sell immediately? Or is it worth buying CureVac?

The Path Forward for Investors

For previous CureVac investors, exposure to the mRNA technology platform is now entirely dependent on BioNTech's strategic direction. Market observers are focusing on several key areas:

Technology Integration: The success of integrating CureVac's specialized expertise in mRNA design, drug formulations, and manufacturing processes into BioNTech's operations will be closely watched. The pace of this integration is a critical factor.

Pipeline Development: Combined oncology research programs from both companies may yield significant clinical trial updates in upcoming quarters, potentially driving future value.

BioNTech's Financial Performance: Future quarterly earnings reports from BioNTech are expected to provide clarity on how the acquired assets are being utilized and their contribution to the broader business.

CureVac Merger B.V. is currently in the process of concluding its reporting obligations with the U.S. Securities and Exchange Commission. Once this is finished, there will be no further standalone public disclosures regarding the former CureVac business unit.