Feb 2023
Lead Manager
USD 250 million
US Public Offering
CureVac
Lead Manager
Van Lanschot Kempen acted as Lead Manager in the USD 250 million capital increase by CureVac.
Transaction highlights
- Capital increase of 27,027,028 new shares at a price of USD 9.25, generating gross proceeds of USD 250 million for CureVac; in case the over-allotment is exercised in full, gross proceeds increase to USD 287.5 million
- The transaction was upsized from originally USD 200 million on the back of strong demand and was priced with a discount of 1.4% to the last closing price and a discount of 12.6% to the last closing price prior to deal announcement
- CureVac intends to use the proceeds to fund the ongoing business activities and mRNA clinical development of its current pipeline
- Following our previous involvement in CureVac’s successful Nasdaq IPO in August 2020 and its capital increase in January 2021 we are proud to have assisted this repeat client raising capital for the third time
Company description
CureVac is a global biopharmaceutical company in the field of messenger RNA (mRNA) technology, with more than 20 years of expertise in developing, optimising, and manufacturing this versatile biological molecule for medical purposes. The principle of CureVac’s proprietary technology is the use of optimized mRNA as a data carrier to instruct the human body to produce its own proteins capable of fighting a broad range of diseases. In July 2020, CureVac entered into a collaboration with GSK to jointly develop new products in prophylactic vaccines for infectious diseases based on CureVac’s second-generation mRNA technology. This collaboration was later extended to the development of second-generation COVID-19 vaccine candidates and modified mRNA vaccine technologies. Based on its proprietary technology, CureVac has built a deep clinical pipeline across the areas of prophylactic vaccines, cancer therapies, antibody therapies, and the treatment of rare diseases. CureVac N.V. has its headquarters in Tübingen, Germany, and has more than 1,000 employees across its sites in Germany, the Netherlands, Belgium, Switzerland and the U.S. Further information can be found at www.curevac.com.
Background Van Lanschot Kempen Life Sciences & Healthcare
In the last twelve months, Van Lanschot Kempen has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:
- Sole Financial Adviser to GenSight Biologics in securing a €12.0 million credit facility from Heights Capital Management
- Joint Global Coordinator and Joint Bookrunner in the SEK 416 million Capital Increase by Hansa Biopharma
- Sole Financial Adviser in SynAct Pharma’s acquisition of TXP Pharma and Joint Global Coordinator & Joint Bookrunner in SynAct Pharma’s SEK 80m PIPE
- Joint Bookrunner in the SEK 200 million Accelerated Bookbuild Offering by Vicore Pharma
- Joint Global Bookrunner in the SEK 148 million Fully Guaranteed Rights Issue by Biovica
- Sole Financial Adviser to GenSight Biologics in securing a €35.0 million credit facility from the European Investment Bank (EIB)
- Joint Global Coordinator & Joint Bookrunner in the SEK 170 million Accelerated Bookbuild offering of Xbrane Biopharma
- Co-Lead Manager in the DKK 786 million Capital Increase by Zealand Pharma
- Financial Advisor in the sale of Sanquin Reagents by Sanquin Health Solutions to Gilde Healthcare
- Financial Advisor in the up to SEK 250 million (convertible) debt financing by Mendus
- Joint Global Coordinator in the SEK 299 million Directed Share Issue by BioInvent
- Sole Global Coordinator in the SEK 200 million financing consisting of a SEK 150m PIPE and a SEK 50m Fully Guaranteed Rights Issue by Abliva
- Joint Global Coordinator & Joint Bookrunner in the SEK 150 million Fully Guaranteed Rights Issue by SynAct Pharma
- Financial adviser in the spin-out and capital increase of InnoSIGN