Hengeler Mueller advises BioNTech on strategic transaction to acquire CureVac in public exchange offer

BioNTech and CureVac have entered into a definitive Purchase Agreement pursuant to which BioNTech intends to acquire, in an all-stock transaction, all of the shares of CureVac, a clinical-stage biotech company developing a novel class of transformative medicines in oncology and infectious diseases based on messenger ribonucleic acid (mRNA).

Under the terms of the Purchase Agreement, each CureVac share will be exchanged for approx. $5.46 in BioNTech ADSs, resulting in an implied aggregate equity value for CureVac of approx. $1.25 billion. Upon closing of the transaction, CureVac shareholders are expected to own between 4% and 6% of BioNTech.

Following the closing of the exchange offer BioNTech and CureVac will effectuate a corporate reorganization of CureVac and its subsidiaries, resulting in BioNTech owning 100% of CureVac’s business and interests in CureVac and its subsidiaries.

Hengeler Mueller advised BioNTech together with Covington & Burling LLP and Loyens & Loeff N.V. on the transaction.

Hengeler Mueller team for BioNTech

M&A/Corporate: Lucina Berger, Georg Frowein (both lead, both partner, both Frankfurt), Johannes Ahlswede (counsel, Munich), Moritz Jacob, Laura Esmaty, Lukas Sengülsen (all Frankfurt), Sophie Blumenberg (Munich, all associate),

Capital Markets: Alexander Rang (partner, Frankfurt), Caspar Haarmann (counsel, Düsseldorf), Pascal Brandt (Frankfurt), Daniela Klar (Düsseldorf, both senior associate), Konrad Schäfer, Dennis Stottmann (both associate, both Frankfurt),

Regulatory/FDI/FSR: Jan Bonhage (partner, Berlin), Susanne Koch (counsel, Düsseldorf), Philipp Heuser (senior associate, Brussels), Tanja Peschen (Düsseldorf), Philipp Hentrich, Annalena Nink, Henri Roth (all Berlin, all associate),

Tax: Sebastian Adam (partner), Sebastian Fernkorn (associate, both Frankfurt),

IP/IT: Matthias Rothkopf (partner), Kim Josefine Weisser (both senior associate), Nina Mackenstedt, David Rüther (both associate, all Düsseldorf),

Employment: Christian Hoefs (partner), Selina Rohr (both Frankfurt), Kira Fritsche (Düsseldorf, both senior associate).