A man pipettes a blue liquid in a laboratory of the biopharmaceutical company Curevac.
Sebastian Gollnow | picture alliance | Getty Images
CureVac, one of Germany’s leading contenders to develop a Covid-19 vaccine, said it aims to raise up to $245 million in an initial public stock offering (IPO) on the U.S. Nasdaq.
The biotech firm said on Monday it plans to offer a total of up to 15.33 million new shares, adding the shares will likely be priced at between $14.00 and $16.00 apiece.
Bank of America, Jefferies and Credit Suisse are acting as joint book-runners, with Berenberg and Kempen & Co acting as passive book-running managers, it added.
The proceeds will fund the development of an mRNA-based Covid-19 vaccine, the ramp-up of manufacturing capabilities, its oncology drug development and the development of a rabies vaccine, among other ventures, according to the statement.
The group, which is controlled by Software firm SAP co-founder Dietmar Hopp and also backed by the foundation of Microsoft co-founder Bill Gates, initially flagged plans to go public on July 24.
It previously won the German state, British drugmaker GlaxoSmithKline and the Qatar Investment Authority as investors funding its growth.
Hopp has agreed to purchase shares worth 100 million euros ($117 million) at the IPO.