TÜBINGEN, Germany, Nov. 8, 2016 /PRNewswire/ -- CureVac AG today announced that the company secured a total of $29.5 million in a financing led by new investors Baden-Württembergische Versorgungsanstalt für Ärzte, Zahnärzte und Tierärzte (via the LBBW Asset Management Investmentgesellschaft mbH, Stuttgart) and Landeskreditbank Baden-Württemberg. CureVac plans to utilize these funds to advance the development of its innovative messenger RNA (mRNA) product portfolio.
The new investors join earlier investors that participated in the company's financing in November 2015, where CureVac raised a total of $110 million (100 million). Additional information regarding the previous round can be found here.
Ingmar Hoerr, PhD, co-founder and CEO of CureVac stated, "We are happy to now have the support of two shareholders from the state of Baden-Württemberg, after having completed the last round of financing with five international investors. Their investment adds additional wind to our sails for our medical pioneering. We are currently testing our mRNA technology in various applications in order to translate our newest scientific findings into product development. We are firmly convinced that a medical revolution will take place due to mRNA technology and thereby entirely new drugs and applications can be made accessible to patients in the future."
The latest round brings CureVac's total capital raised since its inception in 2000 to approximately $360 million.
About CureVac AG
Founded in 2000 as a spin-off from the University of Tbingen in Germany, CureVac is a technology leader in the development of drugs that are based on the molecule Messenger RNA (mRNA). The company generated over more than 16 years a very advanced product pipeline and IP portfolio.
The basic principle of CureVac's proprietary technology is the use of mRNA as a data carrier to instruct the human body to produce its own proteins capable of fighting a wide range of diseases. CureVac's mRNA programs include novel mRNA-based cancer immunotherapies and prophylactic vaccines against infectious diseases (RNActive®), molecular therapies designed to trigger the body's own production of therapeutic proteins (RNArt®), a technology that enables the prolonged expression of functional antibodies and antibody-like proteins from mRNA (RNAntibody®) and a novel, RNA-based adjuvant therapy designed to enhance the immunogenicity of vaccines and proteins (RNAdjuvant®).
CureVac has entered into various collaborations with multinational corporations and organizations, including agreements with Boehringer Ingelheim, Sanofi Pasteur, the Bill & Melinda Gates Foundation and IAVI.
For more information, please visit www.curevac.com.
Verena Lauterbach, Senior Manager Communications
CureVac AG, Tübingen, Germany
T: +49 (0) 7071 9883 1756
Andrew Mielach, Vice President
Tiberend Strategic Advisors, New York
T: +1 212 375 2694
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SOURCE CureVac AG