CureVac AG announced that the company secured a total of $29.5 million in a financing led by new investors Baden-Württembergische Versorgungsanstalt für Ärzte, Zahnärzte und Tierärzte (via the LBBW Asset Management Investmentgesellschaft mbH, Stuttgart) and Landeskreditbank Baden-Württemberg. CureVac plans to utilize these funds to advance the development of its innovative messenger RNA (mRNA) product portfolio.
The new investors join earlier investors that participated in the company’s financing in November 2015, where CureVac raised a total of $110 million (€100 million). Additional information regarding the previous round can be found here.
Ingmar Hoerr, PhD, co-founder and CEO of CureVac stated, “We are happy to now have the support of two shareholders from the state of Baden-Württemberg, after having completed the last round of financing with five international investors. Their investment adds additional wind to our sails for our medical pioneering. We are currently testing our mRNA technology in various applications in order to translate our newest scientific findings into product development. We are firmly convinced that a medical revolution will take place due to mRNA technology and thereby entirely new drugs and applications can be made accessible to patients in the future.”
The latest round brings CureVac’s total capital raised since its inception in 2000 to approximately $360 million.
Filed Under: Drug Discovery