CureVac (CVAC) Investor Presentation summary

Strategic transformation and financial position

• Completed corporate restructuring with a 30% workforce reduction, streamlining costs and enhancing efficiency from 2025 onward.

• Cash position of €438.3 million as of March 31, 2025, with an expected runway into 2028.

• GSK licensing agreement worth up to €1.45 billion supports mRNA opportunities and provides significant upfront and milestone payments.

• Restructured GSK collaboration brought €400 million upfront, with additional milestone payments and reduced OPEX by over 30% from 2025.

• One-off payments in 2024 included €137 million for restructuring, litigation, and contract terminations.

Pipeline expansion and clinical progress

• Advanced oncology pipeline with Phase 1 glioblastoma study showing antigen-specific T cell responses in most patients; data readout expected H2 2025.

• FDA cleared IND for Phase 1 study in squamous NSCLC; clinical trial to start H2 2025 with a multi-antigen mRNA vaccine design.

• New pipeline programs initiated for UPEC prophylactic vaccine and personalized immunotherapy in oncology.

• Infectious disease programs, including seasonal and avian influenza, COVID-19, and flu/COVID combo, are fully licensed to GSK and advancing through clinical phases.

• Preclinical UPEC mRNA vaccine candidates demonstrated superior immunogenicity compared to protein-based comparators.

Technology and manufacturing capabilities

• Proprietary mRNA backbone and advanced LNP delivery systems enable robust immune responses at low doses and improved biodistribution.

• The RNA Printer® provides rapid, automated, GMP-grade mRNA manufacturing for both clinical and personalized therapies.

• Flexible inhouse GMP manufacturing supports end-to-end mRNA capabilities, from preclinical to early commercial production.

• Improved thermostability of mRNA vaccines allows for at least 12 months of storage at 2–8°C or 25°C, simplifying logistics.

• Oncology and infectious disease LNPs are tailored for tissue-specific biodistribution, reducing off-target effects.