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Express News | GlaxoSmithKline and curevac have redrafted their mRNA vaccine collaboration agreement
CureVac to Cut 30% of Workforce as GSK Buys Rights to Make Flu, Covid Shots
US stock market abnormal <strong>Curevac</strong> rose nearly 20% before the market, expanded the mRNA vaccine cooperation agreement with <strong>GlaxoSmithKline</strong>, and planed to cut 30% of staff.
On July 3, Gelunhui, CureVac (CVAC.US), a German vaccine company, rose nearly 20% before pre-market trading, reporting $4. On the news front, GlaxoSmithKline and CureVac have redrafted their mRNA vaccine collaboration agreement in a new licensing agreement, giving GlaxoSmithKline the full rights to develop flu and COVID-19 candidate vaccines (including combination vaccines). CureVac will receive a prepayment of 400 million euros, as well as up to 1.05 billion euros in milestones and royalties. In addition, CureVac has begun a global strategy reorganization plan, which includes a 30% reduction in staff.
Curevac (CVAC.US) rose more than 15% before the market opened. Sell the copyright of flu and COVID-19 vaccines to GlaxoSmithKline (GSK.US).
Pharmaceutical giant GlaxoSmithKline (GSK.US) announced on Wednesday that it is restructuring its partnership with German biotech company CureVac (CVAC.US), and will take full control and takeover of several vaccines jointly developed by the two companies.
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GSK and CureVac Restructure Partnership, Focusing on MRNA Vaccine Development
GSK plc (NYSE:GSK) and CureVac N.V. (NASDAQ:CVAC) today announced they have restructured their existing collaboration into a new licensing agreement, allowing each company to prioritize investment and