CureVac Announces Strategic Restructuring to Focus on High-Value mRNA Opportunities

CureVac N.V. has initiated a strategic restructuring to focus resources on high-value mRNA projects in oncology and other critical diseases. The reorganization involves a 30% workforce reduction to create a more agile organization centered on technology innovation and development.

This shift follows a licensing agreement with GSK worth up to €1.45 billion. GSK will manage the development and commercialization of CureVac's COVID-19 and influenza programs. CureVac will now prioritize oncology and selected areas, expecting two or more clinical candidates by the end of 2025 and at least two new Phase 1 studies by 2026.

Operational expenses are projected to decrease by over 30% from 2025, with personnel costs dropping by approximately €25 million. One-time restructuring costs are estimated at €15 million, expected in Q4 2024. The financial benefits from reduced expenses and the GSK agreement will extend CureVac's cash runway into 2028.