CureVac raises €100m from Baillie Gifford et al.

Further funding came from new backers Chartwave, the Coppel family, Northview and Sigma Group, as well as existing investors Dievini Hopp BioTech and the Bill & Melinda Gates Foundation.

The fresh capital will be used to further develop CureVac's clinical pipeline of messenger RNA (mRNA) therapeutic and prophylactic product candidates. It will also fund research and clinical development to expand the company's proprietary mRNA platform technology.

CureVac also changed its legal form from a German limited liability company (GmbH) to a joint German stock corporation (AG). It stated that the step will facilitate further international growth on the corporate level.

Previous funding
Earlier this year, the Bill & Melinda Gates Foundation invested €46m in CureVac. In September 2012, Dievini Hopp BioTech provided funding of €80m. The same investor provided €27.6m in May 2010.

Company
Founded in 2000 as a spinout from the University of Tϋbingen in Germany, CureVac develops drugs that are based on mRNA. The basic principle of its 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 range of diseases.

The company announced it will start the construction of an industrial production facility with a capacity of 30 million doses per year in 2016.

People
Ingmar Hoerr is the co-founder and CEO of CureVac. Peter Singlehurst is an investment analyst at Baillie Gifford.

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