BioNTech has struck an all-stock agreement to acquire CureVac, a fellow German mRNA vaccine and cancer immunotherapy developer, for approximately $1.25 billion. The deal settles ongoing patent litigation and enhances BioNTech’s oncology pipeline by incorporating CureVac’s research capabilities and manufacturing site in Tübingen. CureVac shareholders will receive BioNTech shares equating to a 55% premium on the company's recent stock price, resulting in a 4–6% ownership stake in BioNTech. This acquisition follows CureVac’s pivot from infectious diseases to cancer after selling vaccine rights to GSK and restructuring its workforce.