Gleiss Lutz advises Baillie Gifford on acquisition of stake in CureVac

Biopharmaceutical company CureVac has raised approx. EUR 100 million in a private placement of shares. The deal represents one of the largest capital increases in the German biotech sector to date. The start-up will receive the fresh capital from a group of investors led by British asset managers Baillie Gifford, who were advised by Gleiss Lutz on the transaction.  

As part of the private placement CureVac has also changed its legal form from that of a limited liability company (GmbH) to a stock corporation (AG). Previous investors include dievini Hopp BioTech holding GmbH & Co. KG of Dietmar Hopp and the Bill & Melinda Gates Foundation.  

CureVac is a technology leader in the development of drugs based on Messenger RNA (mRNA). Proceeds from the financing round will be used to further develop mRN-based therapies and prophylactic vaccines. The new capital will also fund CureVac’s clinical research and the development of new products.  

Baillie Gifford was advised by the following team of Gleiss Lutz lawyers: Dr. Jan Bauer (partner, Frankfurt), Dr. Martin Viciano Gofferje (counsel, Berlin, both lead), Bernhard C. Barth (Berlin) and Christian Kleppmann (Frankfurt, all corporate/M&A).  

Gleiss Lutz regularly advises clients on venture capital matters. Recent transactions in this area include advising Goldman Sachs on its acquisition of a stake in online eyewear retailer Mister Spex and its investment in