GSK buys 10% stake of German biotech firm CureVac in $164-million deal

GSK will buy a 10 per cent stake in German biotech firm CureVac for £130 million ($163.67 million), the two firms said on Monday. This deal bets on new technologies already being used in potential Covid-19 vaccines.

GSK and CureVac, backed by Bill Gates, will work on developing up to five so-called mRNA-based vaccines and monoclonal antibodies (mAbs) for infectious diseases, they said. The deal points to a valuation of more than $1.6 billion for CureVac as it prepares for a stock market launch this year.

For GSK, the world’s biggest vaccine maker, it adds to the company’s raft of investments in