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Money IPO: Biotech company Curevac starts on the New York Stock Exchange

10:45  14 august  2020
10:45  14 august  2020 Source:   handelsblatt.com

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Find the latest BioNTech SE (BNTX) stock quote, history, news and other vital information to help you with your stock trading and investing. That valuation could change depending on whether regulators approve a vaccine. CureVac Chief Financial Officer Pierre Kemula said in an interview Monday that

The Translate Bio /Sanofi vaccine against Covid—using messenger RNA technology —could start The unlisted biotech firm CureVac will become the second company to launch human trials of an That's why the Ibrance news sent the stock down 8%, as it was about to get back to even on the

Das Tübinger Unternehmenist einer der großen Hoffnungsträger für die schnelle Entwicklung eines Corona-Impfstoffs. © dpa The Tübingen company is one of the great hopes for the rapid development of a corona vaccine.

With the money from the IPO, the Tübingen-based company want to cover the research costs for a corona vaccine. Main investor Dietmar Hopp should keep control.

The Tübingen-based biotech company Curevac will be launched on the New York Stock Exchange on Friday to raise money for the development of its corona vaccine. As the news agency Reuters reported, citing an insider, the IPO on the US technology exchange Nasdaq brings the company 213 million dollars (approx. 180 million euros).

13.33 million shares were issued at $ 16 each, the top end of the price range, as a person familiar with the process said Thursday.

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The Translate Bio /Sanofi vaccine against Covid—using messenger RNA technology —could start The unlisted biotech firm CureVac will become the second company to launch human trials of an That's why the Ibrance news sent the stock down 8%, as it was about to get back to even on the

Curevac plans to invest around $ 150 million (about 127 million euros) in the development of its corona vaccine candidate by the time the crucial phase 3 clinical trial is completed. According to the prospectus, another 50 million dollars will flow into the short-term expansion of production capacities. The remaining money will be used to advance other projects from the Curevac laboratories. When looking for a vaccine against Sars-CoV-2,

Curevac is one of several bearers of hope worldwide - and not the only one who is raising fresh money on the stock market for it. On Thursday, the shares of the Chinese company Cansino, already listed in Hong Kong, also started in Shanghai - and the price doubled at times.

Curevac remains under control of Hopp

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The Translate Bio /Sanofi vaccine against Covid—using messenger RNA technology —could start The unlisted biotech firm CureVac will become the second company to launch human trials of an That's why the Ibrance news sent the stock down 8%, as it was about to get back to even on the

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The main investor of Curevac, SAP co-founder Dietmar Hopp, will keep control after the IPO. He also wants to buy shares for $ 100 million.

After the share placement, Hopp's Dievini company, which was previously the majority owner, will hold almost 50 percent of the shares. The stately promotional bank KfW then comes in at just under 17 percent and the pharmaceutical company GlaxoSmithKline at a good 8 percent.

In a recently completed financing round, Curevac had already raised around 560 million euros from investors. Among them was the federal government, which in June announced the entry of KfW for 300 million euros. The aim was therefore also to prevent a possible takeover from abroad in the race for a corona vaccine. According to the federal government, the initiative came from the company. The Qatar sovereign wealth fund and GlaxoSmithKline also appeared as investors. The British company is one of the leading vaccine groups in Europe.

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German biotech company BioNTech said on Tuesday it plans to raise cash in a share sale that will see its coronavirus vaccine partner Pfizer Inc GlaxoSmithKline Buys Stake in German Coronavirus Vaccine Developer CureVac . It will own nearly 10% of the company and collaborate with it on the

Quicken Loans parent Rocket Companies Inc.'s stock public debut fell flat, after the mortgage lending giant's downsized initial public offering The stock 's first trade on the New York Stoc CureVac B.V., a Dutch biopharmaceutical company , filed for an initial public offering on Friday, with plans to

At the beginning of March, US President Donald Trump invited the then Curevac boss Dan Menichella and other pharmaceutical representatives to the White House to find out about the vaccine search. Shortly thereafter there was a stir about the Baden-Württemberg company: According to media reports, Trump tried to secure the vaccine exclusively for his country and offered a large amount for it, which caused outrage. However, Hopp vehemently rejected both a sale and an exclusive production for Trump. Then the federal government got involved.

More: companies worldwide are researching an active ingredient against Covid-19 and receive billions in funding for it. The first clinical tests are in progress.

10 important facts about stock exchange trading on Tuesday .

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