Was the BioNTech / Pfizer Shot in your Arm based on Borrowed or even stolen Science?
Beyond the Battle: CureVac and BioNTech Unite to Pioneer Tomorrow's mRNA Vaccines
Todays writer:
I am Karl Rudolph, a Biochemistry student at the University of Surrey with six years of educational experience in the UK, including both university studies and international boarding school. My academic focus centers on the intersection of life science, economics, ethics, and politics. As a German national with extensive experience in both German and British academic and cultural environments, I bring a bi-national perspective to European R&D, markets and politics. My research interests lie particularly in analyzing how scientific innovation intersects with commercial viability and ethical considerations within the life science industry across these two key European economies as well as the rest of the world.
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During the COVID-19 pandemic, CureVac and BioNTech emerged as leading contenders in the historic race to develop the world's first mRNA vaccine. Despite CureVac's early promise and extensive patent portfolio, BioNTech ultimately claimed victory. This article explores the compelling journey of both companies, from their scientific breakthroughs and courtroom battles to their surprising alliance that promises to reshape the future of mRNA development.
Stock performance analysis and Biotech stocks overview
Figure 1 shows CureVac and BioNTech stock comparison which is a perfect example of biotech volatility, where the only certainty is uncertainty. Surprisingly, CureVac outperformed BioNTech in summer 2024, despite losing the pandemic vaccine race and having no product sales while BioNTech maintained positive cash flow.
How does an apparent underperformer beat a profitable company? The answer lies in how biotech firms generate revenue. Rather than product sales, most biotechs earn through B2B deals, licensing, and partnerships. CureVac's June 2024 collaboration with GSK for novel mRNA technologies exemplifies this model.
Biotech companies typically receive milestone payments when assets reach clinical benchmarks like completing Phase 1 trials for example triggers predetermined payments from pharmaceutical partners. Big pharma gains both potential blockbuster products and access to valuable technology patents.
Public trading amplifies these dynamics. Retail investors closely follow the news, often investing based on positive headlines without fully grasping the science. When CureVac announces a promising deal, investors buy in, driving stock prices up regardless of the technical details, which is creating additional capital through market enthusiasm.
CureVac overview
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Founded in 2000 in Tübingen, Germany, CureVac has amassed over 1,000 patents focused on mRNA technology development. Their pipeline spans infectious diseases, oncology, and rare diseases, with over 50% targeting infectious diseases, reflecting a strategic focus in this area.
Strategic partnerships underpin CureVac's business model. These collaborations provide critical cash flow through milestone payments tied to clinical trial progress. The company balances business acumen with scientific expertise, maintaining strong connections between management and research teams to drive innovation forward.
This structure has enabled CureVac to develop multiple candidates across therapeutic areas while securing the financial stability necessary for long-term R&D investment.
BioNTech overview
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Founded in 2008 in Mainz, Germany, BioNTech became a household name through its collaboration with Pfizer, developing COMIRNATY, the world's first mRNA COVID-19 vaccine. Their pipeline encompasses infectious diseases and oncology, with oncology dominating over 75% of their assets.
Despite market success with an approved product, BioNTech holds only 200 patents, a fifth of CureVac's patent portfolio. The company remains under founder and chief scientist UÄŸur Åžahin's leadership, a structure that facilitates direct scientist-to-leadership communication but potentially lacks the strategic refinement of experienced business leadership.
This scientist-led approach has proven successful in rapid innovation but raises questions about long-term business strategy as the company transitions from pandemic response to sustainable growth.
The mRNA Technology Platform - an overview
Both companies leverage messenger RNA (mRNA) technology, which is a genetic information carrier that functions like molecular emails between cells. These mRNA molecules can be programmed with blueprints for specific proteins. In COVID-19 vaccines, they encode the spike protein, which serves merely as a cellular connector and poses no harm alone.
When immune cells detect this spike protein, they mount a response and create memory cells, which are the body's rapid-response system for future encounters with that protein (Figure 4). This elegant mechanism transforms genetic instructions into lasting immunity, forming the foundation of both companies' technological platforms.
From fierce Competition over the Courtroom to Acquisition
BioNTech made history as the first company to receive mRNA vaccine approval, generating over €50 billion in two years from COMIRNATY sales. Meanwhile, CureVac's CVnCoV candidate failed against the Lambda variant, achieving only 48% efficacy compared to COMIRNATY's 91%.
Post-pandemic, CureVac sued BioNTech for patent violations, seeking millions in damages. The lawsuit's trajectory shifted dramatically when BioNTech acquired CureVac in 2025 for €1.25 billion, which is roughly equivalent to potential lawsuit damages.
This acquisition marked a stunning reversal for CureVac. After negative trial results in 2023, their stock plummeted from pandemic highs of €100 to hovering around €3 throughout 2024. The merger transformed a bitter legal battle into strategic consolidation, uniting two pioneers who had competed fiercely during humanity's greatest recent health crisis.
The Future of the mRNA Superpower
CureVac's stock soared following BioNTech's €1.25 billion acquisition announcement, raising questions: defensive move or visionary investment? While some see it as BioNTech spending a fraction of their €22.5 billion to eliminate legal threats and competition, others view it as scientist-CEO Uğur Şahin prioritizing collaboration over conflict.
This merger creates unprecedented potential. The combined entity controls the world's largest mRNA knowledge base, over 1,200 patents, partnerships with pharmaceutical giants Pfizer and GSK, and €20+ billion in assets. Their complementary pipelines, BioNTech's oncology focus and CureVac's infectious disease expertise, promise synergistic innovation.
Yet biotech remains unpredictable. Success hinges on execution, R&D outcomes, and pipeline progression. The merger could birth a therapeutic revolution or stumble on integration challenges. In biotech, certainty remains elusive, but the potential for world-changing breakthroughs makes this alliance worth watching.