CureVac Raises €27.6 Million

CureVac GmbH, a Germany-based developer of mRNA vaccines, has raised €27.6 million in Series C funding from existing shareholder Hopp BioTech Holding GmbH & Co.

CureVac GmbH, the mRNA vaccine company, today announced the closing of a EUR 27.6 million (US$ 35.25 million) financing round with its major shareholder, dievini Hopp BioTech holding GmbH & Co. KG.

The proceeds will enable further clinical development of RNActive® therapeutic vaccines against solid tumours. The funds will also help to accelerate preclinical and clinical development of prophylactic vaccines against infectious diseases.

Currently, CureVac’s lead compound to treat prostate cancer, CV9103, is in a Phase IIa trial, with results expected in the second half of 2010. In a separate Phase I study, the company is developing CV9201, an mRNA vaccine compound to treat non-small cell lung cancer (NSCLC).

“Since its foundation, CureVac, a spin-off from Tübingen University, has raised a total of EUR 65 million (US$ 83 million). This significant funding shows clearly the faith and confidence of our main investor, dievini Hopp” said Ingmar Hoerr, CEO of CureVac. “The proceeds from this financing round will allow us to further develop our mRNA immunotherapeutics for the treatment of prostate cancer and NSCLC. Furthermore, the funds will enable us to speed up the development of our very promising prophylactic vaccine platform against infectious diseases as well as to further develop our novel RNA-based adjuvants.”

“Based on its unique mRNA-based RNActive® technology and on all the data, knowledge and patents generated so far, we think that CureVac is in a strong position to become an important player in future immunotherapy,” said Friedrich von Bohlen, managing partner of dievini Hopp Biotech Holding GmbH & Co. KG. “With this further funding from our side, CureVac is able to develop its promising therapeutic and prophylactic vaccine candidates. We are convinced that immunotherapeutic approaches will become more and more important in future therapy and prophylaxis of infectious diseases as well as the fight against cancer,” Friedrich von Bohlen added.